Social Security Update: Additional Payments Coming This November

According to Vibes.okdiario, If you receive Social Security benefits, you might find a pleasant surprise in November: an extra payment. This isn’t due to any policy change but rather a result of how the dates fall on this year’s calendar. Here’s a breakdown of who will be affected and how it will work.

Why Will There Be an Extra Payment in November?

Typically, Social Security beneficiaries receive one payment per month. However, in November, some will receive more than one due to specific calendar dates. This situation can create confusion, especially for those receiving payments through the Supplemental Security Income (SSI) program, which supports disabled adults and low-income seniors.

Details of the Extra Payments

The additional payments will primarily impact SSI beneficiaries, as well as some individuals who receive both Social Security and Supplemental Security Income. It’s important to note that not all Social Security beneficiaries will receive an extra payment.

• First Payment: SSI beneficiaries will receive their first November payment on Friday, November 1.
• Second Payment: They will also receive a second payment on Friday, November 29. This second payment is actually for December, which typically would be paid on December 1. However, since December 1 falls on a Sunday, the payment is moved up to the last business day in November.

For those receiving both Social Security and SSI, the Social Security check will also be issued on November 1 instead of November 3, as that date also falls on a Sunday. Therefore, some beneficiaries may receive up to three payments in November: two from SSI and one from Social Security.

Important Payment Dates to Remember

If you receive only Social Security and not SSI, your payment schedule will remain unchanged. Payments will continue based on your birth date:

• November 13: for those born between the 1st and the 10th of the month.
• November 20: for those born between the 11th and the 20th.
• November 27: for those born between the 21st and the 31st of the month.

So, if you receive only Social Security and not SSI, you’ll receive your payment on one of these three dates, depending on your birth date.

Cost-of-Living Adjustments: What to Expect in January 2025

In addition to the extra payment in November, there’s more good news for Social Security beneficiaries: the annual Cost-of-Living Adjustment (COLA). This adjustment is designed to maintain beneficiaries’ purchasing power by adjusting payments for inflation.

For 2025, the COLA will be 2.5%, resulting in a slight increase in payments for all beneficiaries. A typical beneficiary can expect an increase of about $50 per month, bringing the average check to around $1,976.

January Payment Dates

This COLA increase will be reflected in payments beneficiaries receive in January 2025. The payment schedule will be as follows:

• January 8: for those born between the 1st and the 10th of the month.
• January 15: for those born between the 11th and the 20th.
• January 22: for those born between the 21st and the 31st of the month.

Beneficiaries who began receiving their checks before May 1997 or who receive both Social Security and SSI will receive their payment with the COLA increase on January 3.