The Social Security Administration (SSA) has published the December payment schedule. This schedule includes payment dates for beneficiaries of different programs, such as retirement, disability (SSDI), survivors benefits, and Supplemental Income Security (SSI). However, it is important to note that the exact dates of deposit vary according to the date of birth of the beneficiary and the type of benefit he receives.
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Approximately 75 million people receive Social Security benefits, so it's crucial to know when to expect payments. Below is the official payment schedule and some important aspects to consider, including how to prepare for the impact of the 2025 cost-of-living adjustment (COLA), which will be effective starting in January.
In December, the SSA will make five payments scheduled according to the official calendar. These include both regular payments and some advance payments related to the holiday calendar and end-of-year adjustments. The key dates are detailed below:
SSI Beneficiaries (December Payment):
The payment for December will be brought forward and deposited on Friday 29 November (Black Friday). This is because on 1 December Sunday falls, which means that the payment moves to the last working day of November.
Beneficiaries with Date of Birth between 1 and 10 of the Month:
They will receive their payments on Wednesday, December 11. This deposit includes both regular retirement and disability benefits (SSDI).
Beneficiaries with Date of Birth between 11 and 20 of the Month:
The corresponding payments will be issued on Wednesday 18 December.
Beneficiaries with Date of Birth between 21 and 31 of the Month:
In this case, payments will be brought forward to Tuesday, December 24, because Wednesday 25 is a national holiday for the celebration of Christmas.
Advance of the January Payment for SSI Beneficiaries:
On Tuesday 31 December, the payment corresponding to January 2025 will be sent to SSI beneficiaries. This advance is due to the fact that January 1 is a national holiday for the New Year.
The cost-of-living adjustment (COLA) for 2025 will be 2.5%, representing an increase in benefits for all Social Security and SSI beneficiaries. On average, retirement benefits will increase by about $25 a month for those who currently receive about $1,000 a month. This increase will take effect with payments from January 2025, although SSI beneficiaries will begin to see this adjustment reflected in the payment they will receive on 29 December 2024.
The SSA will send personalized notifications by mail starting in early December, informing each beneficiary about their new benefit amount for 2025. For the first time, this notice has been redesigned to facilitate understanding, presenting key information on a single page. The notice includes specific details such as the exact benefit amount, applicable deductions (e.g. Medicare Part B premiums) and payment dates.
In 2025, Medicare Part B premiums will experience an increase of about $1 per month, which could affect the net amount received by some Social Security beneficiaries. It is important to carefully review the COLA notice to understand how this change will impact your overall benefit.
Given the adjustments in the payment schedule and the impact of COLA, it is essential that Social Security and SSI beneficiaries plan their finances in advance. Here are some key recommendations:
Monthly budget: Since some payments will be brought forward, especially for SSI beneficiaries, it is important to create a budget that considers the expenses of both months (December and January). This will help avoid financial problems as you adjust to the new payment schedule.
Payment Notifications: Keep abreast of SSA notifications, whether via physical mail or email, for details of your benefits and any changes to deposit dates.
Personal Information Update: Make sure your contact and banking information is up to date with the SSA to avoid late payments.
Reporting Payment Problems: If you do not receive your payment or have your funds stolen, contact the SSA immediately at 1-800-772-1213 or visit your local office to resolve the problem and receive a replacement.
In addition to Social Security and SSI benefits, it is important that beneficiaries explore other available federal and state programs. For example:
Additional SSI Benefits: Only one in ten eligible Latinos apply for this benefit. It is crucial that Hispanic communities leverage available resources and learn about their eligibility.
State Programs: Many states offer additional benefits for the elderly, such as help with the payment of utilities, food and transportation. These programmes are often not exploited due to lack of knowledge.
Our mission is to provide up-to-date and relevant information for Social Security beneficiaries, especially within the Latino community. We know that navigating the federal benefit system can be complicated, so we work to clarify doubts and provide practical details that help maximize available resources.
Whether you're currently receiving benefits, about to do so, or just want to know more about the programs you might qualify for, our goal is to keep you informed. We invite you to subscribe to our channel and activate notifications to receive daily updates on topics like Social Security, SSI, Medicare and more.
December will bring with it multiple changes to the Social Security payment schedule, along with the start of the COLA increase for 2025. With five key dates for important deposits and adjustments in benefit amounts, it is essential that beneficiaries are informed and prepared. Remember that proper financial planning can make a difference in dealing with end-of-year expenses and the beginning of next year.
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