The Social Security Administration confirmed that there will be a total of 6 payments in December. However, there will only be 5 days to pay. According to the administration’s payment schedule, your money can arrive on December 1, 13, 20, 27 and 29.
First, let’s see who can get each Social security payment, and then you will see those who can collect three payments. You’ll also learn more about payment amounts and the 2024 COLA increase.
December 1 will be payment day for two different groups of beneficiaries. For one, Supplemental Security Income beneficiaries will receive their check December 12023. On the other hand, people with Social Security before May 1997 will get their money on the first, not the third.
Who Will Get 3 Social Security Checks in December?
If you are on Supplemental Security Income, you may also receive Social security retirement benefits or SSDI. This is because your SSI payment is in addition to your retirement benefits or disability benefits. This can happen when your income is low and you cannot make ends meet with your monthly payment.
Therefore, if you get Social security (retirement or SSDI) and also receive SSI, you will receive two payments on December 1st. The Administration usually pays retirement or SSDI on December 3 if you started receiving benefits before May 1997.
But because it falls on the weekend, it will be sent in advance and 2 days before the actual due date. Those who receive Social security and SSI receive their Supplemental Security Income on the 1st of the month and retirement or SSDI on the 3rd.
For this reason they get theirs Social security payment on the 1st instead of the 3rd. Their third check will arrive on December 29th and that is actually their payment from January 1st. So to get 3 checks from the administration in December you must be on both SSI and retirement or SSDI Benefits.
How much can I get for each Social Security payment?
Believe it or not, all the amounts for these three payments will be different. For example, if you cash in SSI, you can receive up to $914 on December 1st. Also, if you’re receiving retirement benefits, you can receive an average of $1,848 on the same day. Those receiving SSDI can receive about $1,489.
What’s more, the SSI payment on December 29 will result in a 3.2% increase. In fact, recipients can collect up to $943. Eligible couples can collect up to $1,415, up from $1,371.
Principals will also get a raise and their new amount is $472, up from 458. Those receiving retirement or SSDI will also get a raise, but on January 3rd, 10th, 17th, 24th.
Therefore, not all Social security payments will receive their 2024 COLA increase on the same day. Note that if you are not receiving SSI and your SSDI or pension payment is too low, you can apply for it. SSI has many benefits and you can have other benefits.