In the US, Social Security payments are made on a strict schedule, so people who get them know exactly when they will get their money. People in the different groups of retirees and disabled people will get their last payment this year in December 2024.
This change is necessary to finish this year’s payment cycle and get ready for the change to 2025. People who depend on these payments need to know the exact dates in order to plan their finances well.
In December, people who get Social Security will get their payments on certain dates, which depend on their age group and birthday. To make sure you get paid on time and understand the calendar well, you need to know the official dates.
As 2024 comes to a close, the last payment will come just before Christmas. This will cause uncertainty for some, but give others peace of mind because they know when they can count on the money.
The year 2025 is coming up quickly, and with it will come changes to how payments are adjusted for inflation through COLA. Before that happens, though, it is important to go over the important dates for the December payments, which mark the end of the yearly Social Security cycle.
Who gets the last Social Security in 2024?
People who are retired or have disabilities and are in group 4 will get the last payment of 2024 on December 24. People in this group started getting benefits after May 1997 and were born between May 21 and May 31, 1997. On the date mentioned, these people will be able to see the payment in their bank accounts or on their Direct Express cards.
The December payment is the last one for 2024, but it is not just people in New York or a few other states who get it. The recipients of these payments are spread out evenly across the country. This system reaches people in every part of the United States.
This month’s payment will be the same as previous ones because there will be no more COLA changes until 2025, which is next year.
People who get Social Security should know that their payment date will be Dec. 24 for group 4. However, people who do not get their money through direct deposit may get paid a little later, usually up to three days later. This keeps things running smoothly during the holidays and makes sure people can get their money on time.
First Social Security payment in 2025
SSI (Supplemental Security Income) benefits will be paid out first in 2025. For people who get paid by direct deposit, the first payment will come on December 31, 2024. It is very important to make this payment because it marks the start of the new Cost of Living Adjustment (COLA) changes that will happen in 2025.
It is important to keep in mind that this SSI payment is not the normal payment for seniors or people with disabilities. It is only for a certain group of people who get this kind of financial help.
The beneficiaries will get these payments in time to make sure they have the right adjustments to start the new year, as required by the new COLA. People who do not get their money through direct deposit will get it on January 3, 2025.
This first payment of 2025 starts a new cycle and is very important for people who depend on SSI for their daily survival. But it is important to remember that this first payment is only for people in the SSI program and not all Social Security recipients. Other regular payments will still be made as planned.