Discover exactly when you'll get your Social Security payments in December 2024 – Mark your calendars now!
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As the year winds down and the holiday season ramps up, one question that's top of mind for many is, “When will my Social Security payments arrive in December 2024?”
With over 72.5 million Americans receiving these vital checks, it's crucial to know when to expect that deposit to plan your end-of-year finances accordingly.
Social Security payments are paid out monthly to retirees, as well as individuals receiving disability and survivor benefits.
The Social Security Administration (SSA) has a systematic approach to distributing these funds, primarily based on your birth date and the type of benefit you receive.
For those who have been part of the Social Security fabric since before July 1997, your payments have a set date each month. However, for newer beneficiaries, the schedule is determined by your birthday. Here's a breakdown of the December 2024 payment dates to help you plan ahead:
"We do this to avoid putting you at a financial disadvantage and make sure that you don't have to wait beyond the first of the month to get your payment," SSA remarks. They also reassure seniors that “It does not mean that you are receiving a duplicate payment in the previous month, so you do not need to contact us to report the second payment.”
If your payment doesn't arrive on time, the SSA suggests waiting three working days before reaching out.
Starting in January, Social Security benefits will see a 2.5 percent increase due to the Cost of Living Adjustment (COLA).
While this is a dip from the substantial 8.7 percent boost in 2023, it's designed to help beneficiaries keep pace with expenses, even as inflation shows signs of cooling.
Following the announcement of the increase last October, Martin O’Malley, commissioner of Social Security says, "Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool.”
In earlier news, we covered the important new Social Security benefits that you should look out for. In case you missed it, you can learn more about the updates in this story here.
Do you have any tips or tricks for managing your Social Security payments? Have you experienced delays in the past, and how did you handle them? Share your stories and advice in the comments below!
With over 72.5 million Americans receiving these vital checks, it's crucial to know when to expect that deposit to plan your end-of-year finances accordingly.
Social Security payments are paid out monthly to retirees, as well as individuals receiving disability and survivor benefits.
The Social Security Administration (SSA) has a systematic approach to distributing these funds, primarily based on your birth date and the type of benefit you receive.
Social Security payments are distributed monthly, with the timing based on the recipient's date of birth and the type of benefit they receive. Image source: Pexels.
For those who have been part of the Social Security fabric since before July 1997, your payments have a set date each month. However, for newer beneficiaries, the schedule is determined by your birthday. Here's a breakdown of the December 2024 payment dates to help you plan ahead:
December 2024 payment schedule. Source; Newsweek.
"We do this to avoid putting you at a financial disadvantage and make sure that you don't have to wait beyond the first of the month to get your payment," SSA remarks. They also reassure seniors that “It does not mean that you are receiving a duplicate payment in the previous month, so you do not need to contact us to report the second payment.”
If your payment doesn't arrive on time, the SSA suggests waiting three working days before reaching out.
Starting in January, Social Security benefits will see a 2.5 percent increase due to the Cost of Living Adjustment (COLA).
While this is a dip from the substantial 8.7 percent boost in 2023, it's designed to help beneficiaries keep pace with expenses, even as inflation shows signs of cooling.
Following the announcement of the increase last October, Martin O’Malley, commissioner of Social Security says, "Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool.”
In earlier news, we covered the important new Social Security benefits that you should look out for. In case you missed it, you can learn more about the updates in this story here.
Do you have any tips or tricks for managing your Social Security payments? Have you experienced delays in the past, and how did you handle them? Share your stories and advice in the comments below!
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