Social Security recipients eagerly anticipate their monthly payments, but December will bring significant changes to the regular payment schedule. These changes affect beneficiaries receiving retirement, survivor, disability, and Supplemental Security Income (SSI) benefits.
Here’s everything you need to know about the upcoming December payment dates, along with information on how much beneficiaries will receive.
What Is the Social Security Payment Schedule?
Normally, Social Security delivers five rounds of payments each month to more than 72 million beneficiaries, including retired workers, survivors, disabled individuals, and SSI recipients.
These payments help beneficiaries cover daily living expenses and make ends meet. The Social Security Administration (SSA) typically follows a standard payment schedule based on the type of benefit and the recipient’s birth date.
For example:
- SSI recipients typically receive payments on the first day of the month.
- RSDI (Retirement, Survivor, and Disability Insurance) recipients who began claiming benefits before May 1997 usually receive payments on the third day of the month, while other RSDI recipients are paid on the second, third, and fourth Wednesdays of the month based on their birth dates.
Changes to the Social Security Payment Schedule in December 2024
December brings three significant changes that affect Social Security payments. Due to holidays and weekends, the payment schedule will not follow the usual timeline. Let’s break down the changes:
- SSI Payments: Since December 1, 2024, falls on a weekend, SSI recipients will not receive their regular benefits on the first of the month. Instead, they will receive their benefits on Friday, November 29, 2024. Additionally, SSI recipients will receive their January 2025 benefits on December 31, 2024, because the first of January falls on a holiday (New Year’s Eve).
- RSDI Payments for Late Birthdays: RSDI recipients born between the 21st and 31st will not receive their benefits on the fourth Wednesday of December (December 25, Christmas Eve). Instead, these payments will be made on Tuesday, December 24, 2024.
Here’s a breakdown of the adjusted payment schedule for December 2024:
- December 3, 2024: RSDI recipients who began claiming benefits before May 1997
- December 11, 2024: RSDI recipients with birth dates between the 11th and 20th of the month
- December 18, 2024: RSDI recipients with birth dates between the 1st and 10th of the month
- December 24, 2024: RSDI recipients with birth dates between the 21st and 31st (advance due to Christmas Eve)
- December 31, 2024: SSI recipients will receive their December payment and also their January payment in this case due to the holiday schedule.
How Much Will Social Security Beneficiaries Receive in December 2024?
The amount Social Security beneficiaries will receive varies depending on the type of benefit and the individual’s circumstances. Here’s a breakdown of the average payment amounts for 2024:
Retirement Benefits:
For Social Security retirement benefits, recipients will receive an average of $1,900 per month. The amount can increase depending on when the individual begins claiming:
- Age 62: $2,710
- Age 67: $3,822
- Age 70: $4,873
Survivor Benefits:
Survivors, including widows and widowers, receive an average payment of $1,505 per month. Survivor benefits may be higher depending on the deceased person’s earnings history. For example, a widow with children may receive $3,653.
Disability Benefits:
Social Security Disability Insurance (SSDI) recipients will receive an average of $1,537 per month. However, the amount may vary based on the individual’s work history and income level.
SSI Benefits:
SSI is a needs-based program that provides assistance to people with disabilities and low-income individuals. In 2024, the maximum SSI benefit is $943 per month for individuals and $1,415 per month for couples. Additionally, an essential person (a caretaker or family member) may receive up to $472.
The 3.2% COLA (Cost of Living Adjustment) for 2024 has already been factored into these amounts, providing a modest increase to help recipients keep up with rising living costs.
Conclusion
The December 2024 Social Security payment schedule comes with notable changes, especially due to the holiday season. Understanding these adjustments and knowing when to expect your payments is crucial for budgeting and planning.
The 2.5% increase in COLA will help recipients manage the rising cost of living, and these changes ensure that payments are still delivered in a timely manner, even during the busy holiday season. Make sure to check your payment schedule and adjust accordingly to avoid any confusion.
FAQs
1. Why is there a change to the payment schedule in December?
The change occurs because of the holiday season, specifically Christmas and New Year’s, when regular payment days fall on weekends or holidays. The Social Security Administration adjusts the schedule to ensure payments are processed timely.
2. How do I know when my Social Security payment will be made?
Payments are based on your birth date or the type of benefits you receive. The SSA provides a monthly schedule on their website, and you can also check your My Social Security account for specific payment dates.
3. Will I receive both my December and January payments in December?
Yes, SSI recipients will receive both their December and January payments in December due to the holiday schedule. January payments will be made on December 31, 2024.
4. How much will I receive from Social Security in December 2024?
The amount depends on the type of benefits you qualify for. For example, retirement benefits average $1,900, SSDI benefits average $1,537, and SSI benefits can range from $943 for individuals to $1,415 for couples.
5. Are all Social Security payments affected by the December changes?
No, the changes mainly affect SSI and RSDI recipients. SSI payments are adjusted for December 31st, and RSDI payments are moved for those born between the 21st and 31st due to the Christmas holiday.
