Certain Social Security Beneficiaries to Receive Additional Payment Soon

Social Security recipients are accustomed to receiving their monthly benefits in a timely manner. However, in November 2024, some beneficiaries will be pleasantly surprised to find that they will receive not one, but two or even three checks. This anomaly in the payment schedule is due to the timing of weekends and holidays, which necessitates an adjustment in the distribution of funds.

The recipients who can expect to receive two payments in November are those who receive Supplemental Security Income (SSI). SSI is a program that provides financial assistance to individuals with disabilities and older adults who have limited income and resources. Typically, SSI payments are made on the first of the month, but if the first falls on a weekend or holiday, the payments are issued on the last business day of the preceding month. In this case, December 1 falls on a Sunday, so SSI recipients will receive their payments on November 29 and November 1, effectively receiving two checks in November.

For beneficiaries who receive both SSI and regular Social Security benefits, they will be receiving three checks in November. Social Security payments are usually issued on the 3rd of the month, but since November 3 falls on a Sunday, these individuals will receive their payments on November 1. Therefore, they will receive payments on November 1, November 29, and their regular payment on November 3.

It’s important to note that all other Social Security recipients should expect their payments to arrive on schedule according to the regular payment dates. The payment schedule is based on the recipient’s birthdate, with payments being made on the 13th, 20th, or 27th of the month, depending on when they were born.

Looking ahead to 2025, the Social Security Administration will continue to adjust the payment schedule to account for holidays and weekends. Additionally, there will be a 2.5% increase in the Social Security cost-of-living adjustment (COLA) for 2025. This increase will result in an additional $49 for the average retiree, raising the average monthly benefit from $1,927 to $1,976. Recipients can check how their monthly benefit compares to others their age by referring to the Average Social Security Check by Age.

In conclusion, the November 2024 payment schedule for Social Security beneficiaries may bring some unexpected joy to those receiving multiple checks. It’s essential for recipients to be aware of these changes and plan accordingly for any adjustments in their finances. Additionally, staying informed about future changes in the Social Security program, such as the COLA increase in 2025, can help recipients better prepare for their financial future.