The Social Security Administration has announced when the last retirement benefit payments will take place in 2024. Retirees can still receive money from the Administration on 3 different paydays before the 2025 COLA becomes effective.
For example, if you qualify for Social Security on the third, your next retirement payments will take place on October 3, November 1, and December 3. The good thing will be that the November payment will be sent ahead of schedule to avoid sending money on the weekend.
Social Security payments in October before the 2025 COLA increase
If you qualify for the October 3 payment for retirees is because you meet one of the 2 conditions the Administration has set:
- you started collecting retirement benefits before May 1997
- you are receiving Supplemental Security Income and Social Security (both of them)
- you do not qualify for retirement on the 2nd 3rd or 4th Wednesday
Another possibility to receive money from Social Security in October, before the 2025 COLA comes, is to meet the birthday requirement. For example, if you were born from the 1-10, your payment is due on October 9. October 16 will be your payday if your birthday is from 11-20. Or Oct. 23 if born from 21-31.
November and December payments for Social Security before the 2025 COLA
The payments in November will bring important surprises for retirees who qualify for the payment on October 3. In this case, your payment will be sent on November 1 rather than November 3. The December payment will be sent on the third, so no changes.
Then those who were born from 1-10, 11-20, and 21-31 will get money on November 13, 20 and 27 respectively. Those who do not qualify for the payment on the third will also get their money in December on the 11th, 18th and 24th.
Bear in mind that the December 25 payment will be issued 24 hours in advance because the 25th is a Federal holiday. Thus, December 24 will be the last payment before the 2025 COLA increase. The latest projections from the Senior Citizens League claim that there could be a boost of about 2.5%.
