A payment worth $1,849 is on the way. Millions of American seniors can’t wait to get their next check. However, while some could receive it in just 48 hours or less, others will have to wait for more than a week.
The only bad thing is the fact that there will be no 2024 COLA increase in 2023 for those on retirement benefits. So, these seniors will have to wait until the January payments to get 3.2% more.
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The next two paydays for those on retirement benefits will be December 20 and December 27. These payments are for those who filed for Social Security and did not qualify for the previous checks. They can get this money if they meet the birth date requirement.
WHO QUALIFIES FOR THE DECEMBER 20 PAYMENT?
This payment is for those who did not qualify for the December 1 and December 13 check. If that is your case, you must meet the birthday requirement. Those whose birthday is from the 11th-20th can be eligible for the December 20 check.
Do not worry if your birthday is not from the 11th-20th because there is still one more check to arrive. Of course, you must have applied first and your birthday must meet the Social Security rules.
So, only those whose birthday is from the 21st to the 31st will be able to cash this monthly payment. Remember that the December checks will not include the 3.2% increase by Social Security.
It will not be until January 3, 10, 17, or 24 when retirees can collect their new amounts. The December payments are worth up to $4,555. But the average benefits are just $1,849. In January, these amounts will be $4,873 and $1,907 respectively.
CAN SENIORS RECEIVE ANOTHER CHECK IN DECEMBER 2023?
Some seniors may still qualify for another payment in December. These seniors will be eligible if they qualified for the Suppplemental Security Income. Do not forget that these payments are only for those American seniors on a very low income.
If you collect SSDI payments you may also be eligible for Supplemental Security Income benefits. So, the main conditions to qualify is to have a low income, be older than 65, be blind, or have a qualifying disability.
The thing is the next SSI checkwill not be in January but on December 29. Advance payments take place when there is a payday on the weekend or on a holiday. As it is a January 2024 check but in 2023, it will bring the COLA boost.
The maximum amount beneficiaries can get is $1,415 if they are married. Single recipients can receive from December 29 up to $943. Essential persons may get up to $472 in 2024. So, singles can expect up to $29 extra per month from their SSI payment.