The Social Security Administration has confirmed that there will be a total of 6 payments in December. Nevertheless, there will only be 5 paydays. According to the Administration’s payment schedule, your money may arrive on December 1, 13, 20, 27, and 29.
First of all, let’s see who can receive each Social Security payment, and then will see those who can collect three payments. Apart from that, you will find out more information about the payment amounts and the 2024 COLA increase.
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December 1 will be payday for two different groups of beneficiaries. On the one hand, Supplemental Security Income beneficiaries will receive their check on December 1, 2023. On the other hand, those on Social Security before May 1997 will collect their money on the first rather than on the third.
Who will receive 3 Social Security checks in December?
If you are on Supplemental Security Income, you may also be receiving Social Security retirement or SSDI payments. This is because your SSI payment is a supplement to your retirement or disability benefits. It can happen when your income is low and you cannot make ends meet with your monthly payment.
Therefore, if you get Social Security (retirement or SSDI) and get the SSI as well, you will collect two payments on December 1. Usually, the Administration pays retirement or SSDI on December 3 if you started receiving benefits before May 1997.
But as it falls on the weekend, it will be sent in advance and 2 days before the real due date. Those who receive Social Security and SSI get their Supplemental Security Income on the first day of the month and retirement or SSDI on the 3rd.
For this reason, they are receiving their Social Security payment on the 1st instead of the 3rd. Their third check will arrive on December 29 and it is actually their January 1 payment. So, to get 3 checks from the Administration in December you must be on both SSI and retirement or SSDI benefits.
How much can I receive on each Social Security payment?
Believe it or not, all the amounts for these three payments will be different. For example, if you cash SSI, you can get up to $914 on December 1. Besides, if you get retirement benefits, you can get on average $1,848 on that same day. Those receiving SSDI can get about $1,489.
What is more, the December 29 SSI payment will bring a 3.2% increase. As a matter of fact, recipients can collect up to $943. Eligible couples can collect up to $1,415, up from $1,371.
Essential persons will also get an increase and their new amount is $472, up from 458. Those who receive retirement or SSDI will also get an increase but on January 3, 10, 17, 24.
Therefore, not all the Social Security payments will receive their 2024 COLA boost on the same day. Bear in mind that if you do not get SSI and your SSDI or retirement payment is too low, you can apply for it. SSI has lots of advantages and you can have other perks.