Although the Social Security Administration (SSA) has announced that there will soon be a Supplemental Security Income payment on November 29, 2024, there are no other payments scheduled for November for retirement benefits. Thus, retirees will have to wait for the first days in December to get a new monthly payment of up to $4,873 if they qualify.
The last December payment will be delivered by Social Security to recipients’ bank accounts on December 24, while the first one will be issued on December 3. Hence, there is a difference of 21 days between the 2 payments, so about 3 weeks.
Eligible recipients for the Social Security payment on December 3
Bear in mind that, according to SSA’s rule, there are just 2 groups of retirees who can receive money on December 3, 2024. One of them will be those who are receiving both SSI and Social Security.
The other group which can receive Social Security on December 3 is the one that began receiving retirement benefits before May 1997. Those who did not start before that date have three more paydays but need to meet the birthday requirement.
- December 3 payment: on both SSI and retirement benefits or on benefits before May 1997
- December 11 payment: born from 1-10
- December 18 payment: born from 11-20
- December 24 payment: born from 21-31
Eligibility for a Social Security payment worth $4,873 in December
For your information, not all Americans qualify for Social Security payments and not all of them receive the same payment amount. In fact, we can only provide readers with an average payment as of October 2024.
This average amount is $1,927, which will remain the same until the new COLA comes into effect next January 2025. To get $4,873 in December, you must have worked for 35 years in jobs covered by SSA, filed at 70, and earned the contribution and benefit base all this time.
Actually, it is easier said than done because few Americans can earn the taxable maximum for 35 years. However, it is a great tip to delay retirement until you are 70 to get 24% extra from Social Security.
