The U.S. Government has officially confirmed the December Social Security payment schedule, which includes the much-anticipated Cost-of-Living Adjustment (COLA) increase. This update will impact millions of Social Security beneficiaries across the country.
The 2024 COLA boost of 3.2% aims to help retirees, disabled individuals, and Supplemental Security Income (SSI) recipients cope with rising living costs.
Social Security Payments for December
The Social Security Administration (SSA) has set specific payment dates for December based on eligibility and program type. These dates determine when recipients will see the 2024 COLA reflected in their payments. The following payment schedule applies:
| Payment Type | Payment Date | Includes COLA Increase | Average Payment Amount |
|---|---|---|---|
| Social Security (Pre-May 1997) | December 3, 2024 | Yes | $1,927 |
| Social Security (Post-May 1997, Birthdates 1-10) | December 11, 2024 | Yes | $1,927 |
| Social Security (Post-May 1997, Birthdates 11-20) | December 18, 2024 | Yes | $1,927 |
| Social Security (Post-May 1997, Birthdates 21-31) | December 24, 2024 | Yes | $1,927 |
| Supplemental Security Income (SSI) | December 31, 2024 | Yes (2025 COLA) | Up to $967 for individuals |
How the 2024 COLA Affects December Payments
The 3.2% COLA increase, effective from January 2024, has already boosted monthly Social Security checks. For December payments, retirees and other beneficiaries will receive an average of $1,927, reflecting the annual adjustment. Here’s a breakdown of expected payments:
- Retirees: Average monthly benefits rise to $1,927, with the highest possible payment reaching $5,108 for those delaying benefits until age 70.
- SSI Recipients: The December 31, 2024 payment will reflect the 2025 COLA increase, raising maximum monthly amounts to:
- $967 for individuals
- $1,450 for married couples
- $484 for essential persons
These adjustments aim to offset inflation and preserve purchasing power for beneficiaries.
Who Will Receive the First Payments in December?
- December 3, 2024: This date is reserved for those who began receiving Social Security benefits before May 1997.
- December 11, 18, and 24, 2024: Payments will follow for beneficiaries who started receiving benefits after May 1997, based on their birthdates.
For SSI beneficiaries, the December 31 payment includes the 2025 COLA increase, ensuring recipients have their adjusted checks ahead of the new year.
Ensuring You Receive Payments on Time
To avoid delays, beneficiaries should ensure that:
- Direct Deposit is set up for seamless transfers.
- Contact information with the SSA is up-to-date.
- Any changes in banking details or eligibility are reported promptly.
If a payment is delayed, contact the SSA immediately to resolve the issue.
How to Calculate Your New Benefit
The COLA increase applies as a percentage of your current benefit. For instance:
- If you currently receive $1,500, a 3.2% COLA adds an extra $48, bringing your monthly payment to $1,548.
- Similarly, SSI recipients receiving $943 will see their payment rise to $967 in 2025.
The December Social Security payment schedule, coupled with the 2024 COLA increase, provides much-needed financial support to millions of Americans.
Whether you’re receiving Social Security retirement, disability, or SSI benefits, these adjustments are designed to help beneficiaries maintain their financial stability in the face of inflation.
FAQs
The average Social Security payment for retirees will be $1,927 in December 2024.
SSI recipients are eligible for the December 31 payment, which includes the 2025 COLA increase.
The largest Social Security payments will arrive on December 31, 2024, reflecting the 2025 COLA adjustment.
The maximum monthly SSI payment will be $967 for individuals, $1,450 for married couples, and $484 for essential persons.
Contact the Social Security Administration immediately to check the status and resolve any issues with your payment.
