More than 70 million Americans have received Social Security benefits in 2023. Every month, there are 4 different paydays and seniors may qualify for only one of them. If you get two payments per month, one of them will be for SSI and the other one from retirement or disability benefits.
Although the SSI payment usually arrives on the first day of the month, it sometimes arrives a few days in advance said Social Security. This will be the case with the SSI payment for January that will be sent on December 29.
So it will arrive right after the Social Security retirement check on December 27. Not all seniors qualify for the last payment for retirees of the year. So, let us have a look at the requirements to be eligible.
WHO QUALIFIES FOR A SOCIAL SECURITY CHECK ON DECEMBER 27?
This payment will not be for those seniors who started receiving retirement benefits before May 1997. Actually, they received their money on December 1, 2023. Those who got a payment from the Administration on December 13 or December 20 will not qualify either.
If you are on retirement benefits and have not gotten a payment in December yet, you must meet one requirement to receive this new check. The Social Security Administration said that this payment will be for those whose birth date is from the 21st to the 31st.
So, if you meet the birthday requirement you will receive a check in about 48 hours. Do not worry if you do not receive it on the same days. Some banks take longer to process payments.
The Social Security Administration reminds seniors that they must wait for three mailing days to contact them for a delayed payment. Undoubtedly, most retirees will not have to wait and they will receive their money on December 27. This payment will only have the 2023 COLA but not the 2024 COLA boost.
HOW MUCH MONEY CAN I COLLECT ON DECEMBER 27?
If you qualify for the last Social Security payment of the year, you can receive up to $4,555. To get this large payment you must have earned the taxable maximum for 35 years and filed at the age of 70.
Therefore, it is very unlikely that you get the maximum amount. Average payments are more frequent and they are about $1,848 in 2023. After the COLA boost, they will become $1,907 from January onward.
If you get Social Security as a spouse, the average payments are about $855 as of November 2023. So it will be a very similar amount on December 27. Some children of retired workers can qualify for benefits on the worker’s record.
The average payment for children of retired workers is about $862 as of November 2023 too. If you have not claimed spousal benefits, do so to get more money in the next Social Security payment.