Getting the next one payment in December is something you can’t wait for. There are so many expenses in December and the cost of living is so high that you must be breaking even money so far.
If you’re not good at saving money and blew your last check, this is the date you might get Social security payment. December 20 will be the next payment day for those who did not receive benefits before May 1997 and meet the date of birth requirement.
Wednesday payments in December come on a different day depending on your birthday. For example, if your birthday is from the 11th to the 20th, your check will arrive on the 20th of December.
HOW MUCH CAN I GET FROM THE DECEMBER 20 PAYMENT?
Although a retiree could collect as much as $4,555 in 2023, that’s unlikely. This large amount is only for those seniors who have earned the taxable maximum for most of their working life, at least 35 years. Also, it’s only for those who filed at age 70. So expect lower payment. But will it bring the new COLA boost?
There are many seniors who wonder if their next payment in December will result in a COLA increase. Unfortunately, they’ll have to wait until January to get it.
That’s because the 2024 COLA jump isn’t available until you get yours retirement checking in January. There is an exception, but it’s only for those who receive Supplemental Security Income on December 29. This is their SSI check, but in advance because New Years is a holiday.
The new retirement payment amounts will be 1907 dollars average in 2024, compared to $1,848 in 2023. So retirees will get an average of about $59 more, which is slightly more than the average increase for all Americans on Social Security ($50).
WILL THERE BE A NEW PENSION CHECK IN DECEMBER?
The administration has confirmed that there will be another one payment On December 27. However, it will only be for those who have not received Benefits before May 1997 and whose birthday is from 21 to 31.
The average amounts will also be $1,848, but that will depend on each retiree. Remember that those who were high earners and filed at age 70 will get much more.
In fact, late submitters may receive a Social security remuneration of about 24% extra per month. If you’re wondering when the January payments are due, let’s take a look at them.
SSA will send the first pension payment of seniors with the 2024 COLA on January 3. These checks will only be for those who received benefits before May 1997. January 10, 17 and 24 will be the next payment days. Checks arrive depending on your birthday, 1-10 (Jan 10), 11-20 (Jan 17), 21-31 (Jan 24).