Social Security Payment December: The Social Security Administration (SSA) staggers Social Security payments based on birth dates to help manage its budget. For December 2024, people born on the 1st or 10th of the month will receive their payment on Wednesday, December 11.
Those born between the 11th and 20th will be paid on December 18, while individuals born from the 21st to the 31st will receive their payments on December 24.
In 2024, if you retire at age 70, you could receive the highest monthly Social Security benefit of $4,873. On the other hand, if you retire at the earliest age of 62, the maximum monthly benefit would be $2,710.
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As of January 2024, the average monthly benefit for Social Security retirees is $1,907. The amount you receive will vary based on your earnings history and the age at which you start collecting benefits.
This scheduling system impacts approximately 67 million Americans who claim Social Security. Of these recipients, around 45-50 million are retirees, and the remaining 17 million include people who are disabled or receiving survivor benefits from a deceased partner.
Social Security Payment December: When do you get the SSI payment?
The 2.5 percent Cost-of-Living Adjustment (COLA), announced in October, will begin in January 2025, with benefits being paid to nearly 68 million Social Security beneficiaries. According to the NewsWeek, Increased payments for approximately 7.5 million Supplemental Security Income (SSI) recipients will start on December 31, 2024.
COLA increases are generally made each year to help benefits keep pace with inflation. However, the 2025 COLA increase is smaller than in previous years, reflecting a cooling off of inflation since the peak caused by the coronavirus pandemic.
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In comparison, the COLA increase for 2023 was the largest on record, at 8.7 percent, due to high inflation during the pandemic, which reached 9.2 percent in 2022.
SSI benefits provide financial assistance to individuals with limited income and resources, including those who are blind, 65 or older, or have a qualifying disability. Children may also qualify for SSI. In 2022, about 7.5 million people received SSI, with 4.2 million of them aged 18 to 64. Around 85 percent of SSI recipients were disabled or blind, and about 55 percent were women.
Those who were eligible for Social Security before 1997, or those receiving both SSI and Social Security, were due to receive payments on December 1 and December 3, respectively. If you haven’t received your payment yet, you should contact the Social Security Administration immediately.
