As the calendar flips to December, beneficiaries of Social Security and Supplemental Security Income (SSI) are eagerly anticipating their year-end payments. In this comprehensive guide, we delve into the details of the December payment schedule, eligibility criteria, and key dates for recipients to mark on their calendars.
Understanding the December Payment Schedule
With the first December Social Security payments already in transit, millions of recipients are keen to pinpoint when their much-anticipated payments will arrive. Social Security has streamlined the payment schedule to accommodate various categories of beneficiaries.
Last Check of 2023 with an 8.7% COLA Increase
This December payment holds significance as it marks the final check of 2023, coupled with an 8.7% Cost of Living Adjustment (COLA) increase. Recipients are advised to stay informed about the implications of this substantial adjustment, setting the stage for financial planning in the coming year.
Six Paychecks in December: January 2024 SSI Payment Brought Forward
December stands out with six paychecks, attributed to the unique scheduling of the January 2024 SSI payment. Understanding this anomaly ensures beneficiaries are prepared for the additional financial boost at the end of December.
Eligibility Criteria: Applying for Retirement or Vulnerable Person’s Benefit
To qualify for the December benefit, beneficiaries must have applied for either retirement or the vulnerable person’s benefit. The date of birth plays a crucial role in determining eligibility, particularly for those who began collecting benefits after May 1997.
December Social Security and SSI Eligibility
- December 3: Beneficiaries who retired before 1997 have already received their payment.
- December 13: Retirees born between December 1 and December 10 will receive their benefits on this date, provided they applied in a timely manner.
- December 20: Beneficiaries born between December 11 and December 20 are scheduled to receive their payments.
- December 27: Recipients born between December 21 and December 31 of any month will get their benefits on this date.
- December 29: SSI beneficiaries anticipating the January 2024 payment will receive their benefits on this date.
As the first December payments start rolling out, beneficiaries are urged to check their eligibility, birth dates, and the corresponding payment dates. The culmination of 2023 brings a substantial COLA increase, making this month’s payment particularly noteworthy. Stay informed, mark the crucial dates, and ensure a smooth transition into the new year with the anticipated financial support.