The year is about to come to an end and the Social Security Administration (SSA) is going to start sending payments of up to $3,627. In total, there will be 6 checks next month. So, there will be one more than the usual number SSA sends.
The thing is that the Administration has modified the days when the payments are due. In this way, Social Security beneficiaries will receive their money much earlier. Remember that SSA avoids paying on the weekend. Thus, they are sending a check on the previous business day.
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If you are receiving Social Security before May 1997, you need to know the changes in your next payday. Whether you are on retirement or SSDI disability benefits, it does not matter. The thing is the date you started collecting payments.
When will retirees and people with disabilities on SSDI receive their new Social Security check in December?
Generally, if you were on Social Security benefits before May 1997, you get your checks on the 3rd day of the month. Unless it is on a holiday or on the weekend, that will be your regular payday. People on SSI and retirement or SSDI benefits at the same time get it on the 3rd too.
However, December 3 is Sunday and the payment will be sent on December 1. By doing so, retirees and people with disabilities will receive their money 2 days in advance. This is great because you may need your cash as soon as possible to get ready for Christmas purchases.
Of course, you must have filed for Social Security first and before May 1997. If not, you will not receive this payment from the Administration. Retirees can start receiving benefits if they are at least 62 years old. Besides, they must have earned 40 work credits, which is about ten years of work while you paid taxes to SSA.
The age at which people with a disability start collecting SSDI may be different. No one knows when a disability can start or appear. But you will definitely need to have worked enough and paid taxes.
How much can retirees and people with a disability on SSDI receive on December 1 from SSA?
The largest amount of money a person with a disability and on SSDI can receive is $3,627. Nevertheless, SSDI beneficiaries receive a lot less on average. This is because they do not have much time to work before they claim their benefits. On average they get about $1,489 in 2023.
This fact reduces their checks a lot. Retirees can also get up to $3,627 at Full Retirement Age. This will be a real challenge because you must have worked for 35 years while you receive the taxable maximum all that time.
Actually, the largest Social Security check is $4,555 in 2023. This will increase to $4,822 in 2024. Most seniors get a lower payment. It is an average check of about $1,848 in 2023.
Since seniors on Social Security and people with a disability on SSDI will get a 3.2% COLA increase, they will get $1,907 (retirees) and $1,537 in 2024. The average increase will be about 50 dollars extra per month. A higher than average increase.