The people who are beneficiaries of the Social Security, they can expect to receive several payments in the final months of 2024, with an additional one for some in the month of November. These checks are issued to people depending on the date they were born. Those people who were born between the 1st and 10th of any month receive the payment of benefit the second Wednesday of the month. Those who were born between the 11th and the 20th receive the payment of the Social Security the third Wednesday of the month. People born after the 20th receive their payment on the fourth Wednesday, there are exceptions, which include children and spouses who receive benefits depending on the work history of the recipient direct, who receive the payment on the same day that the main recipient.
If someone made the request for the benefits before May 1, 1997; their benefits in Medicare are paid for by the state you live in; receive a payment of Social Security income; or live outside the United States, you may also receive your payments on the 3rd of each month. People who receive payments of SSI due to some disability, age or blindness, they should expect to receive them on the first day of the month. When payments fall on a federal holiday or weekend, they will be issued on the immediately preceding weekday.
Social Security Schedule for the Remainder of This Year
- November: Payments will be made on November 13, 20 and 27, and Supplemental Security Income will be received on the 1st and 29th. The additional payment is due to the fact that this year December 1st falls on a Sunday.
- December: Payments will be made on December 11, 18 and 24, and Supplemental Security Income will arrive on the 31st. January 1 would be a holiday: New Year’s Day.
Learn how to calculate your monthly Social Security benefit payment with a free online tool. If you are thinking about retire quick, or you just want to find out, just to know how much money you will be able to receive when you start receiving the benefits of the Social Security, you’re in luck. There is a free tool available on the web for anyone who wants to get an estimate of their monthly payment or manage their benefits, and much more. In fact, it is truly necessary if you are currently recipient of the Social Security.
Learn More About SSI
The SSI, It is a program administered by the SSA. The program offers benefits to people with low resources and income, who are blind, age 65 or older, or have a qualifying disability. The payments of SSI They usually take place on the first business day of each month. This year, December 1st falls on a Sunday, so beneficiaries can expect to receive their payment on SSI December on Friday, November 29, as already mentioned.
While an additional monthly payment initially sounds attractive, this difference in scheduling can affect recipients’ budgets. SSI and the distribution schedule SSI by 2025 shows equally strange programming trends. The irregularity in the scheduled November payment was seen earlier this year, when beneficiaries of the SSI received two checks from SSI in August, but none in September.
There were no social security checks in September. Similar to the problem with the distribution of SSI in December, September 1st fell on a Sunday, so the payments of the SSI were sent on Friday, August 30. This change in the regular payment schedule had an impact when about 7.5 million people who receive the benefit, They accepted compensation of increase of the Social Security for 2025
Last Thursday, October 10, the SSA Announced Changes to Social Security for 2025
The first of these changes is an adjustment for cost of life (COLA) of 2.5%. This increase of Social Security by 2025 it will translate into an extra increase, estimated at $50 per month in January of next year. Despite generally good news about an upcoming wage increase, the increase in Social Security by 2025 is considerably lower than the average increase in COLA of the 2.6% provided by the SSA during the last ten years.
The second change that the SSA for the year 2025 is the increase in the tax on Social Security, for high-income workers. Next year, the “taxable maximum” (the maximum amount of income subject to income tax) to Social Security) will have an increase of $7,500 starting in 2024. The projected increase from a taxable maximum of $176,100 to $168,600 is a result of inflation and wage growth.
