As 2024 draws to a close, Social Security recipients in every region of the US have reason to watch the December payment schedule. Some will have an additional inspection shortly before the start of 2025. Millions of people, particularly those in Social Security group 4, will benefit from this most recent payment, which is scheduled to be mailed on Monday, December 24 for the year 2024.
Furthermore, at the end of the same month in December 2024, we will be able to locate another check, but it will only be available to SSI beneficiaries who have engaged Direct Deposit.
The 2.5% cost-of-living adjustment (COLA), which will be adopted in 2025, will not be included in this retirement payment, even if it arrives near the New Year’s holidays. This means that we will have to wait until the following year to benefit from this increase.In this regard, the payment on the December 24 check will be identical to the payments on the other checks for 2024.
Who will get this additional payment?
Beneficiaries in group 4, which includes those who began receiving benefits after May 1997 and were born between the 21st and the 31st of any month, are the target of the December 24 check.This payment date has been pushed ahead to make sure that all beneficiaries can receive their money in time for the holidays, as Christmas is rapidly coming.This is common practice when the day the checks are mailed falls on a holiday.
It is crucial to keep in mind that each beneficiary’s payout is determined by a number of factors, including their work history and earnings history.This check will therefore be quite helpful in covering additional expenses in the final week of the year, even though it will not include the COLA 2025. Monthly expenses can be covered with any assistance, but during holidays like Christmas and New Year’s, this is much more crucial.
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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.