Who does not want to collect a payment worth $4,555? That is the maximum amount the Social Security Administration has set for 2023, but it will be higher in 2024 thanks to the 2024 COLA.
The new COLA will make all Social Security payments increase by 3.2%. Regardless of the type of check you are receiving, you will collect more money every month.
SSI, SSDI, retirement, spousal or survivor benefits will get more cash. The first day to enjoy the 2024 COLA boost will be December 29, so this week’s payment will only have the 2023 COLA jump, but not the new one.
Who can receive up to $4,555 from Social Security this month?
The next payment by the Administration will be on November 8, and it will only be for those seniors who have filed and received benefits, but not before May 1997.
What is more, you must meet the birth date requirement. If your birthday is between the first and the tenth day of the month, then this check will be yours. Get ready for payment of up to $4,555.
Unfortunately, average payments are not so high. Most do not even reach $2,000. Bear in mind that the average payment is about $1,841 as of September 2023. With the 2024 COLA boost, they will be almost 1,900 dollars since they will increase by 58 dollars approximately.
Make sure your birthday is between the 1st and 10th to receive a retirement or SSDI check on December 13. If your birthday is not on those dates mentioned, then your payment of up to $4,555 will be on December 20 or 27. If you think your check is too low, apply for SSI as well. see the post below.
