Social Security announces a major change in payments for December, as they will be made six direct payments instead of five. This means some beneficiaries could receive more money and more checks than usual in December.
The payments will go to Supplemental Income (SSI) recipients, retirees, and those with Social Security Disability Insurance (SSDI).
Payment dates in December are:
December 1 (2 checks on the same day)
Please note that these payments will be distributed based on the beneficiary’s category and date of birth. Here are the specific details on who will receive payments on each date.
1–SSI payments: December 1.
2–Retirement payments for those receiving benefits before May 1997: December 1st.
3–Retirement or SSDI payments for those with a date of birth from the 1st to the 10th of any month of the year: December 13.
4–Retirement payments or SSDI for those with a date of birth from the 11th to the 20th of any month of the year: December 20.
5–Retirement payments or SSDI for those with a date of birth from the 21st to the 31st of any month of the year: December 27.
6– SSI payments: December 29.
It should be noted that the SSI check that will be given on December 1 will not include the 2024 Cost of Living Adjustment (COLA). While the maximum payment may be $914 in 2023, the maximum amount will be $943 for the check which will take place on December 29, 2024.
On the other hand, SSDI beneficiaries will receive a payment of up to $3,627.
Retirees will also receive different payments calculated based on their income, work history and the age at which they retired.
On average, retired workers will receive payments of $1,841 dollars.
The largest Social Security check a retiree can receive is $4,555 if they claimed benefits at age 70.
If you applied at age 62, the amount can be up to $2,572.
Those who wait until Full Retirement Age will get a payment of $3,627.
· Social Security: The five key arrival dates of the first checks with a COLA increase
· Checks with COLA increase: How do Social Security beneficiaries receive their payments?
· The 9 ways to increase your tax refund in 2024