The Social Security payment schedule for December 2024 presents a peculiarity that has raised doubts among beneficiaries of Supplemental Security Income (SSI). Although it is usual to receive payment on the first day of each month, there were no deposits on Sunday, December 1, and some recipients were surprised by this fact.
The reason? A simple rule that applies in these cases: the Social Security Administration (SSA) does not issue payments on holidays or weekends. To avoid delays and financial complications for recipients, the SSA chooses to advance the deposit to the nearest previous business day, meaning in this case it was sent on Friday, November 29.
There was no SSI payment on December 1, but a surprise is coming on the 31st
This mechanism does not only apply to December. At the end of this month, SSI beneficiaries will receive another advance based on the same peculiarity of the calendar: the payment corresponding to January 1, 2025 will be issued on Tuesday, December 31.
It is important to note that the second payment, although it is issued in December, corresponds to the month of January and will be the first of the benefit payments by the SSA that will receive the increase in the cost of living adjustment (COLA), which will be 2.5%.
The idea of the COLA adjustment is that Social Security benefits (and others, such as SNAP benefits, administered by the USDA), do not lose purchasing power compared to the inflation of the last fiscal year. This increase, the lowest since 2021, adds an average of an additional $50 to the monthly check, bringing the average payment to $1,976.
For those who receive SSI payments, the COLA increase will be reflected in the check issued on December 31, corresponding to the month of January 2025. For their part, beneficiaries of traditional Social Security will begin to receive their adjusted payments starting on January 3, 2025. This schedule ensures that all beneficiaries receive the adjustment in a timely manner.
Who can receive SSI benefits
Broadly speaking, the requirements to qualify are these three:
- Requirement of anddad: Be 65 years or older, blind, or have a disability.
- Limits of icomment: Have low or no income. This includes wages, Social Security benefits, and other types of income.
- Limits of recursos: Have few or no resources. Resources are things you own, such as property, bank accounts, and vehicles.
The medical condition must be severe and significantly limit your ability to perform basic activities of daily living, such as bathing, dressing, or eating. A condition that is expected to last at least one year or result in death may also be considered eligible. In all cases you must have medical evidence that demonstrates the condition. For more information, you can visit the official SSA website: https://www.ssa.gov/es/ssi.