As the holiday season approaches, the Social Security Administration (SSA) has announced changes to its payment schedule to accommodate Christmas Day falling on a Wednesday.
This adjustment means some retirees and beneficiaries will receive their Social Security checks one day earlier than originally planned. These changes aim to ensure that no payments are delayed due to the holiday.
Adjusted Payment Schedule for December 2024
The SSA typically distributes payments based on a recipient’s birthdate and enrollment type. However, when a payment date coincides with a federal holiday or weekend, the SSA reschedules the deposit to the previous business day. Here’s how the adjusted schedule will look for December:
- December 18, 2024: Retirees born between the 11th and 20th of any month will receive their payments.
- December 24, 2024: Payments originally scheduled for December 25 (for those born between the 21st and 31st) will be issued a day early.
- December 31, 2024: Supplemental Security Income (SSI) recipients will receive their January 2025 checks early due to New Year’s Day falling on a federal holiday.
Final 2024 Payment with 3.2% COLA
The December checks will reflect the 3.2% Cost-of-Living Adjustment (COLA) for 2024, marking the last payment under this COLA increase before the updated 2.5% COLA for 2025 takes effect. Beneficiaries can expect adjusted payments in January 2025.
Payment Amounts for Retirees and Other Beneficiaries
The amount of the Social Security check depends on factors such as retirement age, lifetime earnings, and contributions. Here’s a breakdown of typical payment amounts:
| Category | Average Monthly Payment | Maximum Monthly Payment |
|---|---|---|
| Retirees (claimed early) | $2,710 | Up to $3,822 |
| Retirees (claimed at age 70) | $4,873 | Up to $4,873 |
| Survivor Benefits (2 children) | $3,653 | – |
| Disability Benefits | $1,537 | Up to $3,822 |
Supplemental Security Income (SSI) Payment Update
SSI recipients will be the first to benefit from the 2.5% COLA increase in January 2025, with their payments arriving on December 31, 2024. Here’s how the increase affects SSI payments:
| Recipient Type | Current Payment | 2.5% Increase | New Payment |
|---|---|---|---|
| Individuals | $943 | $24 | $967 |
| Couples | $1,415 | $35 | $1,450 |
| Essential Persons | $472 | $12 | $484 |
Key Dates to Remember
- December 18, 2024: Payment for retirees born between the 11th and 20th.
- December 24, 2024: Early payment for retirees born between the 21st and 31st.
- December 31, 2024: SSI recipients receive their January 2025 payment.
The adjusted Social Security payment schedule for December 2024 ensures timely deposits despite holiday disruptions.
Retirees, survivors, and disabled individuals will see their last checks reflecting the 3.2% COLA, while SSI recipients will be the first to receive the 2.5% COLA increase in late December.
As the SSA continues to adjust payments to match economic conditions and holidays, staying informed can help beneficiaries manage their finances effectively.
FAQs
1. Who will receive their Social Security payment early in December 2024?
Retirees born between the 21st and 31st will receive their December payment on December 24, instead of December 25, due to the Christmas holiday.
2. Will the December payment include the 2025 COLA increase?
No, the December payments will reflect the 2024 COLA of 3.2%. The 2.5% COLA increase will take effect with January 2025 payments.
3. What should I do if I don’t receive my payment on the adjusted date?
The SSA advises waiting three business days after the scheduled payment date before contacting their customer service. Delays are often due to banking systems rather than the SSA.
