Social Security is paid out on Friday, October 2: who benefits?

Key Points:

• Social Security benefits for certain long-term beneficiaries and those receiving both Social Security and Supplemental Security Income (SSI) will be issued early on Friday, October 2, instead of the usual October 3, due to the latter being a non-business day.
• SSI payments for October are scheduled for Thursday, October 1, with an average monthly benefit of $738.73, while average Social Security benefits are $2,033.27 for retirement, $1,498.94 for disability, and $1,635.70 for survivors.
• The Social Security Administration will announce the 2027 cost-of-living adjustment (COLA) on October 14, with an anticipated 3.5% increase in benefits, effective January 2027.
• Most Social Security recipients will receive their October payments on Wednesdays, October 14, 21, or 28, based on their birthdate, with payments for those receiving benefits based on another’s record dependent on that person's birthdate.
• Benefits are typically paid via direct deposit or the Direct Express Card, with recipients able to manage payment details through the SSA’s “my Social Security” online tool or by contacting the SSA.