The last payments in December are coming soon. The Social Security Administration has scheduled the last retirement and disability check for December 27, 2023.
Not all retirees or SSDI beneficiaries qualify for the December 27 check. These payments will only be for those who meet 2 key requirements. Amounts will differ from one recipient to another too.
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Remember that payments can be higher for those who have achieved the conditions that Social Security set. For your information, these checks will not include the COLA increase for 2024, so beneficiaries will have to wait for the extra money.
DECEMBER 27 PAYMENTS AND ELIGIBILITY
If you started receiving payments before May 1997, these checks will not be for you. To get them, you must have filed and received benefits after May 1997 or in that same month. But that is not enough.
Thus, you must have your birthday from the 21st to the 31st to be eligible for this Social Security payment on December 27. Remember that those whose birthday was before have already collected their checks.
This requirement is the same for retirees and Social Security Disability Insurance beneficiaries. They get the checks on the same day. Even if their amounts and benefits are completely different.
The downside is the fact that these retirees and SSDI recipients will have to wait until January 24 to receive their payments with the 2024 COLA boost. It will just be 3.2%, but it will come in handy for those who are on a shoestring budget.
DECEMBER 27 SOCIAL SECURITY AMOUNTS
The Social Security Administration claimed that the largest payments in 2023 can be $4,555 if you are in retirement. Very few Americans qualify for that large check because they must have been high earners for 35 years and filed at 70 in 2023.
In the same way, there are also large payments for Social Security Disability Insurance. As many workers with a disability cannot work for many years due to their disability, their checks are smaller.
The maximum amount for SSDI is $3,627 in 2023. Anyway, it is better to have a look at the average payments in 2023. For example, retirees can get $1,848 on average.
SSDI beneficiaries can receive about $1,489 on average payments as well. As you can see, retirees may collect more money than those on disability benefits. The last payment in 2023 will be for SSI beneficiaries who get their January check on December 29. SSI recipients will be the first ones to get the COLA increase.