The end of the month is here for United States citizens. Likewise, the end of the year is near, which means that the Social Security payment calendar is also coming to an end. This is not bad news, though, as the end of this calendar means the beginning of a new one.
Also, a new Social Security schedule means an increase in the benefit to beneficiaries. Through the COLA we may find that as of January 2025 we will get a higher payment on all benefits issued by the Administration.
And not only will retirement checks increase, but other Social Security payments will have that increase as well. Supplemental Security Income checks will increase as will retirement and disability payments.
So, we are looking at a new schedule with a new increase. This means that pensioners will be able to get a larger pension and therefore be able to directly address the ever-increasing inflation.
Whic americans will get the extra Social Security next week?
Only one group of Americans may get a Social Security check next week. It is important to remember that retirement benefits, whether age or disability, are divided into four different mailings. Each mailing is targeted to a different group of retirees.
If we meet specific requirements we will be able to get payment of these benefits directly. In order to receive the payment during the last week of December and the last week of the year, the following requirements must be met:
- Have Social Security since after 1997.
- Have your birthday between the 21st and 31st of any month.
And there are no other mandatory requirements for the Administration to send us the check on this particular day. The mailing day will be the fourth Wednesday of the month, which is December 24th. So if you have not yet received the check and you are within that group in just a few hours you could get it.
Also, in order to collect the payment as soon as possible we must activate Direct Deposit. This method of payment is the fastest of all and allows us to have all the benefits sent by Social Security instantly.
Another check from SSA before the end of 2024
Although on the 2024 calendar the 24th is the last of the paydays for retirees there is an extra check that makes Social Security beneficiaries can get up to $943 more. This check is only for Supplemental Security Income recipients who meet a requirement.
If we activate Direct Deposit we will not only get our retirement payment immediately, but we can also get our Supplemental Security Income check early. This is because the payment of this benefit should be made on the 1st of January, but since that day is a holiday, the Administration will send it earlier.
For the same reason, the maximum check is not for $943 but for $967. And it will already include the COLA 2024, so we will have 3.2% added with respect to the payments of this same SSI benefit in previous months. This payment day will be in the 31 of December.
