According to Vibes.okdiario , The first Social Security payment in December 2024 will be issued on December 3, and not everyone is eligible to receive it. There are specific criteria that determine who qualifies for this payment.
Who Qualifies for the December 3, 2024 Payment?
The first requirement for receiving a payment on December 3 is related to when you began receiving retirement benefits. If you started collecting retirement benefits before May 1997, you will be eligible for this payment.
Additionally, individuals who receive both Social Security and Supplemental Security Income (SSI) benefits will also qualify for a payment on December 3, 2024, as long as they meet the eligibility criteria for both programs.
How Much Will Retirees Receive on December 3, 2024?
The amount of your Social Security payment will depend on various factors, including your work history and the age at which you filed for retirement. However, the average monthly benefit for Social Security recipients in December 2024 is expected to be around $1,927.
It’s important to note that December payments will not include the 2025 COLA (Cost-of-Living Adjustment) increase, which is set to take effect in January 2025. The expected $50 COLA increase will be reflected in payments starting next month.
For those with a higher earning history, the maximum benefits for December 2024 are:
- $4,873 for those who filed at age 70.
- $3,822 for those who filed at Full Retirement Age (typically age 66 or 67, depending on birth year).
- $2,710 for those who filed at age 62.
Also Read – New SNAP Payment Dates Announced for December 2024, Check When Your Food Stamp Arrives
Social Security Payment Dates After December 3, 2024
After December 3, there will be three more Social Security payment dates for the month:
- December 11: For beneficiaries with a birth date between 1st and 10th of the month.
- December 18: For beneficiaries with a birth date between 11th and 20th.
- December 25: For beneficiaries with a birth date between 21st and 31st.
It’s important to note that December 25, 2024, is a Federal Holiday, so payments for those with birth dates between the 21st and 31st will be issued earlier on December 25, instead of the usual Wednesday schedule.
Conclusion
Social Security recipients can expect to see their December payments according to the schedule above. Be sure to check your birth date to know when you’ll receive your payment. While the 2025 COLA increase won’t be included in December’s payment, the expected boost will appear in January 2025 to help retirees keep up with inflation.
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