A payment $1,849 worth is on its way. Millions of American seniors can’t wait to get their next paycheck. However, while some may receive it in just 48 hours or less, others will have to wait more than a week.
The only bad thing is that there won’t be any 2024 COLA increase in 2023 for those on retirement benefits. So those seniors will have to wait until January payments to get 3.2% more.
The next two days for the payment of pension benefits will be December 20 and December 27. payments are for those who have applied for social security and are not eligible for the previous checks. They can get that money if they meet the date of birth requirement.
WHO IS RESPONSIBLE FOR PAYMENT ON DECEMBER 20?
This payment is for those who did not qualify for the December 1st and 13th test. If this is your case, you must meet the birthday requirement. Those whose birthday is from 11 to 20 can qualify for December 20 checking.
Don’t worry if your birthday isn’t from 11-20 because there is one more checking arrive. Of course you must have applied first and your birthday must match Social security rules.
So only those whose birthday is 21 to 31 will be able to redeem this month payment. Remember, the December checks won’t include the 3.2% increase in Social Security.
Only on January 3, 10, 17 or 24 will pensioners be able to take their new amounts. December payments are worth up to $4,555. But average benefits are only $1,849. In January, those amounts will be $4,873 and $1,907, respectively.
CAN SENIORS GET ANOTHER CHECK IN DECEMBER 2023?
Some adults may still be eligible for another payment in December. These seniors will be eligible if they qualify for Supplemental Security Income. Remember, these payments are only for America’s very low-income retirees.
If you are collecting SSDI payments you may also be eligible for Supplemental Security Income benefits. So, the main conditions to qualify are to have a low income, be over the age of 65, be blind, or have a qualifying disability.
The point is that the next SSI check will not be in January but on December 29th. In advance payments to be held when there is a weekend or holiday payment day. Since this is a January 2024 check, but in 2023, it will bring a COLA boost.
The maximum amount beneficiaries can receive is $1,415 if they are married. Single recipients can receive from December 29 up to $943. Principals can get up to $472 in 2024. So singles can expect up to $29 extra per month from their SSI payment.