Social Security was created in 1935 to pay retired workers age 65 and older a continuing income after retirement. In 2023, an average of 67 million Americans per month will receive a Social Security benefit, according to the U.S. Social Security Administration (SSA).
Typically, these are payments that come on a set date each month. But one VERIFY viewer recently texted our team to ask if Social Security recipients will get a bonus payment in March.
Will Social Security recipients receive a bonus payment in March?
No, Social Security recipients will not receive a bonus payment in March.
WHAT WE FOUND
Social Security payments are sent out on a strict schedule. Most recipients get their payments on the second, third or fourth Wednesday of each month, depending on their birth date.
But AARP says people who receive Supplemental Security Income (SSI), such as those who are blind, disabled, or at least 65 years old with very limited financial resources, usually get those payments on the first of the month. This can be a problem if the first falls on a federal holiday or on a weekend when banks are closed, like it does on Saturday, April 1, 2023.
More from VERIFY: What to know about Social Security benefits: VERIFY Fact Sheet
As a workaround, SSI payments are sent out the next earliest business day. This means that in March, SSI recipients will get paid on March 1 and March 31. But the latter payment is for April — not a bonus payment.
This year, SSI recipients will also receive two payments in June, September and December. AARP says that the same schedule adjustment also applies to other Social Security payments if the date falls on a holiday. You can see the full payment schedule for 2023 here.