The Supplemental Security Income (SSI) payment for December, up to $943, will be sent to numerous beneficiaries in just 19 days. According to the Social Security Administration (SSA), these payments are sent to people with significant disabilities that affect their income.
To qualify, people must be at least partially blind or have a physical or mental condition that significantly limits their daily activities for at least 12 months or more, or that could lead to death. Individual claimants can receive up to $943 per month, couples up to $1,415, and essential care givers to SSI beneficiaries can receive up to $472.}
Social Security payment schedule for the month of December
The payments will be made on December 11, 18 and 24, and the SSI will arrive on December 31, since 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 retiring quickly or just want to find out, just by knowing how much money you will be able to receive when you start receiving Social Security benefits, you are in luck.
There is a tool available for free 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 really necessary if you are currently a beneficiary of Social Security.
Learn more about SSI
SSI is a program administered by the SSA. The program offers benefits to people with low income and resources, who are blind, 65 years of age or older, or have a qualifying disability. SSI payments are usually made on the first business day of each month. This year, December 1 falls on a Sunday, so beneficiaries can expect to receive their December SSI payment on Friday, November 29, as already mentioned.
While an additional monthly payment initially sounds appealing, this difference in scheduling can affect SSI recipients’ budgets and the SSI distribution schedule for 2025 shows equally bizarre scheduling trends. The irregularity in the scheduled November payment was seen earlier this year, when SSI recipients received two SSI checks in August, but none in September.
There were no Social Security checks in September. Similar to the problem with the December SSI distribution, September 1st fell on a Sunday, so the SSI payments were sent on Friday, August 30th. This change in the regular payment schedule had an impact when about 7.5 million people receiving the benefit accepted compensation from the increase in Social Security by 2025.
The SSA announced Some Changes to Social Security by 2025
The first of these changes is a 2.5% cost of living adjustment (COLA). This Social Security increase for 2025 will translate into an extra increase, estimated at $50 per month in January next year. Despite the usually good news about an upcoming wage increase, the Social Security increase for 2025 is considerably lower than the average COLA increase of 2.6% provided by the SSA over the last ten years.
The second change announced by the SSA for the year 2025 is the increase in the Social Security tax, for high-income workers.
Next year, the ”taxable maximum” (the maximum amount of income subject to Social Security tax) will have an increase of $7,500 starting in 2024.
The planned increase from a taxable maximum of $176,100 to $168,600 is a result of inflation and wage growth.
