The Social Security payout, which is due on December 18, will be an early holiday present for millions of American pensioners. This final monthly payment of the year helps millions of families with their finances among the Christmas preparations and the economic difficulties that come with the end of the year.
As previously stated, this will be the final payment of the year and, if the maximum pension is received, could total up to $4,783. The COLA will raise Social Security benefits by 2.5 percent beginning January 1, 2025. This will help families with their finances because of the increase in the cost of everyday life, even though it is a slight change compared to recent years.
Who Will Receive the Social Security Payment on December 18, 2024?
This payment will be made to recipients of retirement, disability, survivor, or veteran benefits who meet the eligibility requirements between the eleventh and twentieth of any given month.
The payment was made on Wednesday, the 11th, for individuals born between the 1st and the 10th. Contact Social Security if you haven’t received the payment.
Those who attain the qualifying age between the 21st and 31st of any month will receive their final Social Security payment of 2024 on the 24th, as the 25th is a holiday and Christmas Day.
Amounts to Be Received on the 18th
- The maximum amount at age 62 is $2,710.
- At age 65, it is $3,426.
- At age 66, it is $3,652.
The maximum payout for claims made at full retirement age (67 years for those born after 1960) is $3,822. The maximum reward for those who postpone retiring until they turn 70 is $4,873.
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Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.