Social Security Check Arrives Early in August: Other Major Changes Coming for Retirees

Posted on 07/28/26 at 05:51

Millions of Supplemental Security Income (SSI) beneficiaries will receive their next payment on Friday, July 31, even though it is their August benefit.

The early payment is due to a routine adjustment by the Social Security Administration (SSA) because August 1, 2026, falls on a Saturday.

Why it matters: In addition to the early SSI payment, the coming months will be critical for retirees and Social Security beneficiaries, as key decisions expected in October could affect benefit amounts, earnings limits, and payroll tax thresholds for 2027.

Early Social Security Check on July 31 Is the August SSI Payment

The deposit scheduled for July 31, 2026, is not an extra payment and does not represent an increase in benefits.

Instead, it is the August SSI benefit, issued early because the SSA sends payments on the last business day before the scheduled date whenever the first of the month falls on a weekend or federal holiday.

As a result, SSI recipients will receive two deposits in July, but no new payment on August 1.

This scheduling change applies only to Supplemental Security Income (SSI) beneficiaries. SSI is a federal program administered by the SSA that provides assistance to older adults, adults and children with disabilities, and individuals with limited income and resources.

Social Security 2027 COLA Will Be Announced in October

Although the official 2027 Cost-of-Living Adjustment (COLA) has not yet been announced, several organizations specializing in Social Security have released early projections, suggesting the increase could exceed those seen in several recent years.

Current estimates include:

• Mary Johnson, an independent Social Security and Medicare analyst, projects a COLA of up to 4.7%.
• The Senior Citizens League (TSCL) forecasts an increase of approximately 3.8%, slightly lower than its previous estimate.
• AARP estimates a 3.6% increase, equal to about $75 more per month for the average retired worker.

The SSA will announce the official 2027 COLA in October, after calculating inflation based on third-quarter consumer price data.

Earnings Limits for Working Beneficiaries Could Also Increase

Another anticipated change for 2027 affects retirees who continue working while collecting Social Security benefits.

As in previous years, the earnings limits are expected to be adjusted to reflect changes in the national average wage index.

According to projections from the Social Security Board of Trustees:

• The lower earnings limit could increase to $25,200.
• The higher earnings limit could rise to $67,200 in 2027.

However, these figures remain preliminary. The official amounts are expected to be announced on October 14, along with other updates for the upcoming fiscal year.

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Social Security Payroll Tax Wage Cap Could Rise
The expected changes would affect not only beneficiaries but also higher-income workers.

The Social Security Board of Trustees projects that the maximum amount of earnings subject to the Social Security payroll tax could increase to $190,200 in 2027.

If that projection becomes official, an additional $5,700 in wages would be subject to the 6.2% payroll tax, meaning some workers could pay about $353.40 more in Social Security contributions.

As with the Social Security 2027 COLA and earnings limits, the SSA is expected to announce the final wage cap on October 14.

In the meantime, the July 31 early SSI payment will be the most immediate change affecting millions of beneficiaries. It also marks the beginning of a period in which several important decisions will shape the finances of retirees and workers throughout 2027.