Millions of retired Americans will soon see their Social Security payments hit their bank accounts as the Social Security Administration (SSA) prepares to issue the next round of benefits.
Scheduled for December 18, 2024, this payment will include the 3.2% Cost of Living Adjustment (COLA) for 2024.
This upcoming payment will benefit retirees who:
- Applied for Social Security benefits after May 1997
- Were born between the 11th and 20th of any month
Here is everything you need to know about this payment, the upcoming schedule, and how much you can expect.
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New Social Security Payment Arriving Dec. 18, 2024
The Social Security Administration follows a fixed payment schedule to ensure timely delivery of benefits. However, the specific date of payment depends on the retiree’s date of birth and application date.
For retirees who were born between the 11th and the 20th of the month, the payment for December 2024 is scheduled for Wednesday, December 18, 2024.
If you are eligible, here’s how the payment distribution will work:
- Direct Deposit: Payments will reflect in your bank account within hours.
- Paper Checks: If you receive payments by mail, allow a few additional days for processing.
For retirees with birthdays later in the month, the remaining payment dates are:
- December 24, 2024: Birthdays between the 21st and 31st (moved earlier due to Christmas).
- December 31, 2024: SSI recipients receive January’s payment in advance.
Social Security Payment Schedule for December 2024 and January 2025
| Payment Date | Eligible Beneficiaries |
|---|---|
| December 18, 2024 | Retirees born between the 11th and 20th of any month |
| December 24, 2024 | Retirees born between the 21st and 31st of any month |
| December 31, 2024 | SSI recipients – January 2025 payment |
| January 3, 2025 | Early retirees (before May 1997) |
| January 8, 2025 | Retirees born between 1st and 10th |
| January 15, 2025 | Retirees born between 11th and 20th |
| January 22, 2025 | Retirees born between 21st and 31st |
How Much Will Retirees Receive?
The exact Social Security payment varies depending on retirement age and individual earning history. Here’s a breakdown of the expected amounts:
- Early Retirement (age 62): Retirees receive up to $2,710 per month.
- Full Retirement Age (age 67): Payments increase to $3,822 monthly.
- Delayed Retirement (age 70): Those who delay retirement until 70 receive the maximum benefit of $4,873 per month.
The average monthly payment for Social Security beneficiaries is approximately $1,900, but claiming at the optimal age can maximize your payout.
What Happens If You Don’t Receive Your Payment?
If your Social Security payment is delayed or doesn’t arrive as expected:
- Check your bank account or mail delivery status.
- Confirm your payment details on the My Social Security Account.
- Contact the Social Security Administration (SSA) after three business days if the issue persists.
Important Note: December’s payments still reflect the 3.2% COLA adjustment for 2024, but starting in January 2025, a new 2.5% COLA increase will take effect.
How to Ensure Your Social Security Payment Arrives on Time
- Verify that your direct deposit information is accurate through your My Social Security Account.
- If you prefer paper checks, ensure your address is updated with the SSA.
- Check the official SSA payment schedule to stay informed about upcoming payment dates.
The next Social Security payment for eligible retirees is scheduled for December 18, 2024. This payment will reflect the 3.2% COLA increase for 2024 and provide crucial financial support for millions of Americans.
By understanding the payment schedule, ensuring updated information with the SSA, and planning effectively, retirees can better manage their benefits.
Stay informed about upcoming adjustments, including the new 2.5% COLA for 2025, to make the most of your Social Security benefits.
FAQs
Who will receive the Social Security payment on December 18, 2024?
Retirees who applied for Social Security after May 1997 and were born between the 11th and 20th of any month will receive their payment on December 18.
How much can retirees expect to receive from Social Security payments?
The payment amount varies based on retirement age:
- Up to $2,710 for early retirees
- Up to $3,822 at full retirement age
- Up to $4,873 for those who delay until age 70
What should I do if I don’t receive my Social Security payment on time?
First, check your bank account and My Social Security Account online for updates. If the payment doesn’t arrive after three business days, contact the Social Security Administration.
