Social Security’s $600 increase SSI: Will there be an extra $600 payout in August 2024?

It’s going to be an atypical month for Social Security beneficiaries in August due to changes in the payment schedule. Since certain dates coincide with weekends, nearly 68 million Americans who depend on Social Security each month will be affected. This includes retirees, survivors, people with disabilities, and others who rely on these funds to maintain their financial stability.

In August 2024, your Social Security payments will be distributed according to your date of birth.

• • If your birthday falls between the 1st and 10th, expect your payment on Wednesday, August 14.
  • If your birthday falls between the 11th and 20th, your payment will arrive on Wednesday, August 21.
  • If your birthday falls between the 21st and 31st, you’ll receive your payment on Wednesday, August 28.

If you are someone who receives Supplemental Security Income (SSI), then you must know that your payment date is usually set for the first day of the month. However, in 2024, the first day of September falls on a Sunday, which means that the payment for the month of September has been scheduled for Friday, August 30th instead. This change in the payment schedule implies that SSI recipients will receive two payments in August and none in September.

In case you can’t locate your payment, the Social Security Administration (SSA) can be contacted after three business days. You can reach them through their toll-free number, 1-800-772-1213, on weekdays from 8 a.m. to 7 p.m. local time. To receive prompt assistance, it’s advisable to call during the morning, towards the end of the week, or at the close of the month.

$600 August increase is bogus

When it comes to Social Security benefits, the amount you receive is determined by your highest 35 years of earnings. A special formula is used to calculate your primary insurance amount. Additionally, the age at which you choose to start receiving benefits impacts the amount you’ll receive each month. Waiting until age 70 to claim your benefits can result in higher payments.

Staying alert to potential scams is of utmost importance. There has been a recent circulation of misleading information regarding an increase of $600 in Social Security benefits. This scam falsely claims that the payment will be issued in August 2024. However, it’s essential to recognize that this information is entirely untrue. Legitimate Cost-of-Living Adjustments (COLA) are announced in October and take effect in January, and the Social Security Administration (SSA) does not require any additional information to issue them.

Inspector General Gail S. Ennis emphasizes, “Safeguard your personal information, as these reports are often scams aimed at stealing your identity or money.” Social Security Commissioner Martin O’Malley also warns, “Reports of a $600 payment increase are FALSE. Don’t fall for this stunt.”

To obtain reliable and precise details about Social Security and COLA, it is recommended to visit ssa.gov/cola.

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