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Representative Payees

Last Updated: September 9, 2025

First off, an important reminder to all Social Security beneficiaries - paper checks for benefits will end by September 30, 2025. After that date, all benefits will be paid electronically. Beneficiaries who have not yet set up electronic payments may do so on the Social Security Administration’s website (ssa.gov) or by asking their financial institution to send the required direct deposit information to the Social Security Administration. For more information, call the National Teleservice Center at 1-800-772-1213 or the local field office at 1-866-716-9671.

Next, what happens to Social Security benefits if a retiree needs help with financial management? The benefits may be paid instead to a “representative payee,” who must use the money to meet the beneficiary’s current needs and is accountable to the Social Security Administration for doing so. Records must be kept of how the benefits are spent. The representative payee may be a family member, a spouse, a friend, or an organization, such as a nursing home or social service agency.

Each beneficiary may designate in advance up to three people who could serve as representative payees should the need arise. It’s optional, and can be changed or withdrawn at any time. An annual notice of advance designees is provided for review, in case circumstances have changed. The Social Security Administration evaluates the suitability of representative payees before beginning payments to them.

Visit the Social Security Administration at www.ssa.gov/payee/advance_designation.htm for more information on this topic.

(August 2025)

Investment and insurance products are:

• Not FDIC insured

• Not insured by any federal government agency

• Not a deposit or other obligation of, or guaranteed by, Centier Bank

• Subject to investment risks, including possible loss of the principal amount invested