Just by looking at the Social Security payment schedule we can find out when a United States disability beneficiary will collect the next of the retirement checks. And in the next few weeks many of those retirees will enjoy the last of the payments.
But there is nothing to worry about, as we are talking about the last of the payments within the year 2023, since after the December payment we will have to wait until January to collect the benefit again.
Also, what seems like bad news because we will not get any more payments in 2023 is actually a good thing. And that is that starting in January 2024 we will have the COLA added to all benefits. So the $3,627 maximum for disability benefits will cease to exist.
If you qualify you will get the last check for 2023 in the next week. In that case, it will be the last payment in the amount of $3,627 and you will only have to wait one more month to get a larger Social Security disability check.
WHICH GROUP OF DISABILITY BENEFICIARIES WILL GET THE NEXT SOCIAL SECURITY?
In order to collect the new Social Security disability benefit, you will need to meet a couple of requirements. These requirements are essential to collect this particular payment, but that does not mean that Americans who do not meet them cannot have the payment in the month of December.
December 13th, 2023 will be the last day of payments for retirees who:
- Have a Social Security check for disability or other reason since after 1997.
- Have a birthday between the 1st and 10th of any month.
And there are no other mandatory requirements, so meeting those two is enough. But if we want to get the payment as soon as possible we will also need to activate Direct Deposit. In case we don’t do that it is possible that the payment will arrive in the following days. It will arrive, but a little later.
HOW MUCH WILL SOCIAL SECURITY INCREASE WITH COLA 2024?
Starting in 2024 we will find that all Social Security benefits will have an increase. That increase is the Cost of Living Adjustment (COLA) and each year it is a different figure. By 2024 the increase will be as high as 3.2%.
Therefore, any retiree with a check will be able to collect an extra 3.2% on all benefits. This means that the maximum for disability payments will not be $3,627 but $3,743 per month.
Likewise, any other benefits will have an increase in the coming year 2024. Thus, retirees with a payment of $1,000, for example, will start collecting a payment of $1,032 starting in January.
On the other hand, the Supplemental Security Income payment will also increase. The maximum payment will no longer be $914, but will go up to $943. But it is not necessary to have the maximum payment to get the COLA. Any Social Security disability check will have the increase.