Social Security Payment Schedule 2021 – Know Important Details About It


social security payment schedule 2021

Before knowing the essential details regarding the social security payment schedule 2021, we first need to get familiar with the social security payment schedule. The Social Security Administration (SSA) provides impressive benefits for retired Americans and disabled individuals and workers, spouses of workers, and widows and widowers. If you paid the Social Security tax during your life, you could apply for the social security benefits come retirement. In November 2020, the average social security benefit for retired individuals was $1522.70. If you get Social Security, you will get your retirement benefits as a lump sum payment each month. The payment dates for Social Security are set by SSA, based on your birthday, depending upon the type of benefit you are receiving.

Similarly, the payment date set by SSA for 2021 is known as the social security payment schedule 2021. Recipients of spousal benefits, retirement benefits, and disability benefits from Social Security Disability Insurance (SSDI) will receive monthly payments based on their birthdays. Supplemental Security Income (SSI) has a different payment schedule – it pays on the 1st of each month. 

Payment Dates As Per Social Security Payment Schedule 2021 

If Your Birthday Falls Between 1st And 10th

Social Security
  • January 13
  • February 10
  • March 10
  • April 14
  • May 12
  • June 9
  • July 14
  • August 11
  • September 8
  • October 13
  • November 10
  • December 8

If Your Birthday Falls Between 11th And 20th

Social Security
  • January 20
  • February 17
  • March 17
  • April 21
  • May 19
  • June 16
  • July 21
  • August 18
  • September 15
  • October 20
  • November 17
  • December 15

If Your Birthday Lies Between 21st And 30th

  • January 27
  • February 24
  • March 24
  • April 28
  • May 26
  • June 23
  • July 28
  • August 25
  • September 22
  • October 27
  • November 24
  • December 22

Receiving Social Security Payments As Per Social Security Payment Schedule 2021 

You will receive the social security payments as per the social security payment schedule 2021 electronically; you will not receive a cheque in the mail. You will either receive a direct deposit in your bank account or opt for a prepaid debit card. When you apply to receive your Social Security benefits, you will get a chance to give your account number. 

Tax On Social Security Benefits 

Before receiving the payment as per social security payment schedule 2021, first, you have to pay taxes on your social security benefits, which will depend on your income level. If your retirement income is more than a certain amount, some of your social security benefits may be taxable. 

  • Single-filers with an income between $25,000 and $34,000 will have to pay income tax on up to 50% of their benefits. 

If the retirement income is more than $34,000, 85% of the benefits may be taxable. 

  • Married individuals who file jointly have to pay income tax on 50% of their income benefits between $32,000 and $44,000.

If the income is more than $44,000, they will have to pay taxes on 85%of their benefits. 

Conclusion 

This article was a brief explanation of some important details regarding the social security payment schedule 2021. I hope it is helpful for you! 

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