On December 3, one payment from the Old-Age, Survivors, and Disability Insurance (OASDI) program was sent to people who are eligible. Four more payments are scheduled to be sent in the next few weeks.
For people who get OASDI or Supplemental Security Income (SSI), this information is very important because the Social Security Administration is starting to send out millions of payments today.
Also, all people who get SSI will get the new 2.5% cost of living adjustment (COLA) in their Social Security checks by the end of the year. Still, keep in mind that this is an exception. Until January 2025, all the other beneficiaries will get their higher benefits.
Social Security still has four remaining payments scheduled to be mailed this month
The Social Security Administration sends five payments a month to people who get OASDI or SSI and have met all the requirements and conditions to be accepted into each program.
The SSA made a monthly payment schedule so that all beneficiaries can know exactly when they will get their monthly checks based on the program they are eligible for. This was done so that more than 72 million payments could be made on time.
There may be small changes to the regular schedule every once in a while, though, mostly because of weekends or holidays. The payment schedule for this month says that beneficiaries will get their last payments on the following days:
- On Wednesday, December 11th, for disabled, survivors, and retired Americans who were born between the first and the tenth
- On Wednesday, December 18th, for disabled, survivors, and retired Americans who were born between the eleventh and the twentieth
- On Tuesday, December 24th, for disabled, survivors, and retired Americans who were born between the twenty-first and the thirty-first
- On Tuesday, December 31st, for low-income Americans over 65 years that qualify for the SSI program.
SSI recipients should be told that these payments are the only ones that will include the 2.5% COLA increase. This is because the payment is made early because January 1st is a holiday.
Because of this, people who get SSI will not get the normal $698 check; instead, they will get $715. Also, individuals will get $967 a month, and couples can expect to get up to $1,450.
Finally, the Social Security Administration will send an extra $484 to all SSI recipients who meet the essential person (EP) condition. This means that individuals could get a total of $1,451 and couples could get up to $1,934.
How much money will retirees, survivors, and disabled Americans receive on December Social Security payments?
The new increase will not yet be added to the Social Security payments of retirees, survivors, and disabled Americans. However, beneficiaries will receive different payment amounts depending on when they started receiving benefits, how long they worked, how much Social Security tax they paid, and the type of disability for those on SSDI benefits.
Since there are a lot of different payment amounts, we would like to tell you about the average and highest amounts of money that program recipients will get this month:
Retirement benefits in December
- Average payment: Beneficiaries will receive around $1,900 in retirement benefits.
- Payment for early claimants: Beneficiaries who claimed Social Security checks at 62 or before reaching the full retirement age (FRA) will receive around $2,710 per month.
- Payment when reaching FRA: Beneficiaries who claimed Social Security checks at 67 will receive around $3,822 in monthly benefits.
- Maximum payment: Beneficiaries can receive up to $4,873 if they delay benefits until reaching 70 and pay Social Security taxes, considering the maximum taxable limits.
Survivor benefits in December
- Average payment: Survivors will receive around $1,505 in monthly benefits.
- Payment for individuals: Survivors who qualify as individuals can receive around $1,773 per month.
- Payment for families with 2 children: Survivors under this category will receive up to $3,653 in monthly benefits.
Disability benefits in December
- Average payment: Disabled Americans who meet SSA’s guidelines can receive up to $1,537 in average benefits.
- Payment for blind recipients: Those Americans who meet blindness conditions will receive $2,590.
- Maximum payment: Disabled Americans who paid Social Security taxes based on the maximum taxable limits could earn up to $3,822 per month.
