Payments are about to be sent out by the Social Security Administration (SSA). This will be the last check in November, but it will not be the last one in 2023 since there are 6 more payments in December. In order to qualify, you must have filed first for retirement benefits.
However, you will not be eligible if you received Social Security before May 1997. In that case, your benefits will arrive on December 1, two days before the due date. So, if you started receiving benefits from May 1997 onward and you have not cashed your benefits yet, this payment may be yours.
In order to be eligible, your birth date is key. This is the way the Social Security arranges payments for those collecting benefits after May 1997. What is more, your benefits will arrive on Wednesday, November 22.
Who qualifies for the Social Security payment on November 22?
Social Security claims that those beneficiaries whose birthday is from the 21st to the 31st will be eligible. Of course, you must have filed first to get these retirement benefits.
As a matter of fact, it will be a payday for retirees. But it will also be a payday for those Social Security beneficiaries receiving SSDI. SSDI is for workers who have a disability and qualify.
The maximum amount retirees can collect in 2023 is $4,555. So, on November 22, this will be the largest check possible at the age of 70. If you retire at Full Retirement Age in 2023, the largest payment you can collect is $3,627. At 62, it could be up to $2,572. The earlier you file, the smaller your check.
Retirees usually receive $1,843 on average, so it is a lot less than the maximum amount. SSDI recipients can get up to $3,627 but they get $1,489 on average as of October 2023 said SSA.
What are the next Social Security payments after November 22?
The first check in December will be on the first day of the month. Those on Supplemental Security Income will receive up to $914 if they are eligible and single. On the same day, there will be an advanced payment. It should arrive on December 3, but SSA never sends money on the weekend.
So, Social Security prefers to send it on the previous business day as it was scheduled. Retirees and SSDI beneficiaries will cash their money on the first of December if they start receiving benefits before May 1997.
The next three Wednesday payments will be for the rest of the beneficiaries who did not receive benefits before May 1997. Their paydays will be on December 13, 20 and 27. The maximum amounts and average payments are the same as in November.
However, there will be an SSI payment on December 29. Although it was supposed to arrive on New Year, it will be available 3 days before the due date. SSA avoids sending money on holidays. This payment will include the COLA boost.