The US is getting ready to send out the last Social Security payments for December 2024. This will affect millions of retirees. People with birthdays between November 11th and December 20th will get their check in just a few days.
They are one of the most-anticipated groups this month. These payments are part of the benefits that Social Security gives out every year, which helps beneficiaries keep their money stable.
The amount that retirees get depends on a lot of things, like how long they worked and when they decided to start getting benefits.
December is a very important month because it is when the last payments of the year are made and when changes to benefits that start with the new year are planned. In addition, this month is especially important for people who get both Social Security and SSI.
Retirees getting their next Social Security payment
People who retired from Social Security after May 1997 and whose birthday is between the 11th and 20th of any month are in Group 3. This group’s next payment is set to arrive on December 18th, as planned by the Social Security Administration (SSA).
This group’s last check of the year will be sent in December, giving them much-needed money during the holidays.
The amounts depend on the person’s work history and the age at which they chose to start receiving payments. For instance, people who waited to retire until they reached the maximum benefit age may get a lot more money.
So, these are the two things that must be done to get the December 18th payment:
- Have a Social Security benefit after May 1997.
- Have a birthday between the 11th and 21st of the month.
Keep in mind that this schedule is a good guideline, but the exact day the money arrives in the beneficiary’s account may depend on the payment method used. If you choose direct deposit, you will get your money faster.
Other methods, though less common, may have slight delays. Of course, it only takes a few days at most for the money to get to the appropriate bank account.
Can I get more than one Social Security payment in December?
Yes, it is possible to get more than one December Social Security check, but it depends on the circumstances. One of these situations is when people get Supplemental Security Income (SSI). This program helps people who do not make a lot of money and, in some cases, adds to their Social Security benefits.
The January 2025 SSI check for these people will be sent on December 31, 2024, instead of January 1, 2025, because January 1 is a holiday. The cost-of-living adjustment (COLA) that starts in 2025 will be part of this extra payment. This will help with money matters right before the new year.
It is important to know that the double payment is only given to people who qualify for both programs and have direct deposit set up. This makes sure that benefits are sent more quickly and safely.
People who do not use this method may have to wait longer to get their payment, which will come on the first business day of the new year.
December not only marks the end of a tough year for US Social Security recipients, but it also starts the process of changes that will have an effect on their finances in 2025. To get the most out of these benefits, you need to know how the programs work and keep up with changes to the rules.