In the next week thousands of United States Social Security beneficiaries will enjoy a new retirement check. This new check will not yet arrive including the 2024 COLA, but an extra 2023 check will have it added.
Beneficiaries age 70 who have had a benefit since before 1997 already got their check last December 1st. This check was the first one this month and only beneficiaries prior to that year were able to get it. Any citizen with a Social Security check after that year could get payment within the next week.
The Social Security Administration divides post-1997 beneficiaries into three different groups. Belonging to one group or the other is as simple as having a birthday on a certain day. If we have a birthday between the 1st and 10th of the month, the payment arrives on the second Wednesday of the month. In this case, this group of beneficiaries born between the 1st and 10th got their payment on December 13th.
WHICH 70-YEAR-OLD RETIREES WILL GET THEIR SOCIAL SECURITY PAYMENT NEXT WEEK?
Two conditions must be met in order to receive the Social Security payment next week in December. The exact day the money will be sent will be December 20th, 2023. But not only 70-year-old retirees can collect this payment.
Despite what many citizens think, the payment of this benefit depends on two elements that have nothing to do with the age or the condition of the retiree. Therefore, this check can be gotten by disability beneficiaries, 62 years old retirees and widows and widowers.
The requirements to get this check are:
- Have a birthday between the 11th and 20th day of any month.
- Have applied for Social Security benefits after 1997.
Any retirement beneficiary who meets these two conditions could receive the payment on the same day of December 20th. Simply activating Direct Deposit will be enough for the money to appear immediately in the beneficiary’s checking account.
HOW TO GET THE EXTRA SSI FOR DECEMBER 2023?
In the month of December 2023 there is an extra payment from Social Security. This extra payment is the Supplemental Security Income. The check, which will have the 2024 COLA included, is actually the first of the payments next year.
The reason the Administration will send the payment earlier is very simple: the 1st is a holiday, so it sends the payment on the immediately preceding business day. And that business day is none other than December 29th.
This payment can reach a maximum of $943. This means that it has the COLA included so any Social Security beneficiary with this check will collect 3.2% more than what they have collected from Supplemental Security Income through 2023.
The thing to keep in mind is that the Social Security Administration sends the payment, but getting it is up to you. As with retirement checks, Supplemental Security Income payments arrive immediately if we have Direct Deposit activated. So if you activate Direct Deposit, you can cash your check on December 29th.