The Social Security Administration (SSA) is preparing to issue the final payments of December, following a schedule based on beneficiaries’ birth dates and benefit types. Nearly 73 million people rely on these payments each month, covering retired workers, survivors, disability insurance beneficiaries, and Supplemental Security Income (SSI) recipients.
December 2024 Payments: Detailed Schedule
The SSA follows a specific payment schedule, which has been adjusted this year due to the Christmas and New Year’s holidays.
Retirement Payments
- 1st–10th of the month: Payments issued on Friday, December 13.
- 11th–20th of the month: Payments issued on Friday, December 20.
- 21st–31st of the month: Payments moved up to Tuesday, December 24, due to Christmas.
SSI Payments
- Regular monthly payments: Typically issued on the 1st of the month.
- January 2025 payment: Moved up to Tuesday, December 31, 2024, due to the New Year’s holiday. This payment will include the Cost of Living Adjustment (COLA) for 2025.
Exceptions
Beneficiaries who began receiving retirement payments before May 1997 are not on this schedule. They receive their payments on the 3rd of the month, regardless of their birth date.
Benefit Amounts in 2024
The amount each beneficiary receives depends on their work history and the age at which they began receiving benefits. The national averages for 2024 are as follows:
- Individual retirees: $1,907/month.
- Retired couples: $3,303/month.
- Individual SSI recipients: $943/month.
- SSI for couples: $1,415/month.
Average $1,900 Payment on December 24
Beneficiaries born between December 21 and December 31 will receive their average payment of $1,900 on Tuesday, December 24, moved up due to the Christmas holiday. These payments primarily affect retirees and follow the adjusted Wednesday schedule.
Cost of Living Adjustment (COLA) for 2025
To offset inflation, the SSA applies an automatic adjustment known as the Cost of Living Adjustment (COLA). Beginning in January 2025, benefits will increase by 2.5%. Here’s what that means:
- Individual retirees: Average payment of $1,955/month.
- Retired couples: Average payment of $3,385/month.
- Individual SSI recipients: $967/month.
- SSI for couples: $1,450/month.
Example Calculation
If your current benefit is $1,800/month:
- Multiply $1,800 by 2.5%:
1,800×0.025=451,800 \times 0.025 = 451,800×0.025=45. - Add this increase:
1,800+45=1,845/month1,800 + 45 = 1,845/month1,800+45=1,845/month.
These increases will be automatically applied starting in January 2025.
How to Verify or Update Your Information
To ensure your payments are processed correctly and on time:
- Log in to your SSA online account to check your personal details.
- Update your banking or mailing information as needed.
- Contact the SSA customer service for additional assistance.
Important Details to Watch for Year-End Payments
- Payments on December 24 apply to retirees born between December 21 and December 31.
- Payments on December 31 for SSI recipients will already include the 2.5% COLA adjustment for January 2025.
- Beneficiaries who began receiving retirement payments before May 1997 are not affected by these changes and will receive their payments on December 3 as usual.
For more information on payment schedules, benefit amounts, or the COLA adjustment, visit the official Social Security Administration (SSA) website. You’ll find detailed resources to help plan your finances and confirm your eligibility.
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