For Americans, the end of the month has already arrived. Similarly, as the year draws to a close, the Social Security payment schedule is coming to an end as well. But that’s all right because a new calendar year begins at the end of this one.
Additionally, a revised Social Security timetable will result in higher benefits for recipients. Beginning in January 2025, we may get additional government funding for all of our benefits as a result of the COLA.
Social Security benefits will also increase, particularly for those who retire. Verification of Supplemental Security Disability, retirement, and income will all increase.
We are currently considering a new timetable that includes a raise. This will directly address the issue of price increases by enabling retirees to receive larger pensions.
Which Americans will get the extra Social Security next week?
One group might only receive their Social Security benefits the next week. It’s crucial to keep in mind that payouts are divided into four mailings for those who are retiring due to age or disability. A distinct group of retirees receives each letter.
These advantages will be immediately available to us if we fulfill specific requirements. To get the money in the final week of December and the year, the following conditions must be met:
- Have Social Security since after 1997.
- Have your birthday between the 21st and 31st of any month.
For the Administration to send us the check today, no other conditions need to be fulfilled. The fourth Wednesday of the month, December 24th, will be the day to mail. You may receive the check within a few hours if you belong to that group and haven’t received it yet.
In order to receive the payment as quickly as possible, we also need to set up Direct Deposit. This is the quickest way to pay for Social Security and allows us to receive all of our benefits immediately.
Another check from SSA before the end of 2024
The last day that retirees receive their paychecks is the 24th of 2024. However, Social Security claimants are eligible to receive an additional check worth up to $943. Only those who receive Supplemental Security Income and fulfill specific qualifications are eligible to receive this check.
In addition to receiving our retirement income immediately, setting up direct deposit will enable us to receive our Supplemental Security Income check ahead of schedule. This is because the Administration will transmit the benefit sooner than the scheduled January 1st payment date because that day is a holiday.
For the same reason, the largest check is for $967 rather than $943. The same SSI benefit payments from prior months will have an additional 3.2% added to them because the COLA 2024 will already have been added. The deadline for payment is December 31st.
See Also: New adjustments to Social Security, Disability Benefits, VA, and SSI that will take effect on December 31
Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates, feel free to reach out to us via email. We appreciate your trust and support!
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.