While Christmas may generally evoke joyous sentiments, these last few months of the year can also be incredibly detailed for Social Security beneficiaries. Building budgets might require huge adjustments, especially for those retirees. Competing programs administered by the SSA are operational with an impact on millions. While usually thought of in connection with retirees, it is equally important to consider other groups under Social Security; the SSA also manages SSI, SSDI, spousal benefits, and other programs. There is a multitude of programs under the SSA umbrella, adding a level of complexity that requires current and potential beneficiaries to stay updated on what has really changed and how the payment schedules are operated.
Social Security retirement payments
Social Security retirement benefits average $1,907 per month, with the highest benefits reaching $4,873. To qualify, individuals must be at least 62 years old and have worked for a minimum of 10 years with taxable earned income. Some even decide to wait until age 70 to maximize their benefits, though most prefer to retire earlier.
Social Security disability insurance payments
Disability insurance is available to individuals with a disability that significantly limits work ability. This program is designed for workers who meet certain requirements, and it provides a maximum benefit of $1,539 per month. It’s essential to know that to qualify, a disability must last 12 months or longer or be terminal.
Supplemental Security income payments
SSI provides financial assistance to individuals with disabilities and older persons who have limited resources, based on strict eligibility regulations. In the most extreme cases of need, this program can be combined with other SSA benefits. However, the maximum SSI payment is $943 per month.
Best calendar for payments for the remainder of 2024
Not all payments are issued on the same day—a useful feature that allows time for payment completion and for the SSA to detect any issues early. For example, SSI payments are straightforward, as they are issued on the 1st of each month. This year, the remaining dates are November 1, November 29, and December 31.
Following a similar protocol, Social Security and SSDI payments are divided into two groups. One group is for recipients who began benefits before May 1997, while the other is for those whose benefits began after. If you began receiving Social Security before that date or receive both Social Security and SSI, your check will be sent on the 3rd of each month, with SSI payments on the 1st. Therefore, you will receive checks on November 1 (as the 3rd falls on a Sunday) and December 3.
Distribution of remaining payments according to birth date
Remaining payments are distributed based on each beneficiary’s birth date:
- Born between the 1st and 10th of the month: payments are made on the second Wednesday. The last payments of the year will be November 13 and December 11.
- Born from the 11th to the 20th: payments are made on the third Wednesday. These beneficiaries’ final payments are November 20 and December 18.
- Born between the 21st and 31st: payments are issued on the fourth Wednesday. Therefore, the last payments will be November 27 and, due to the December 25 holiday, December 24.
With this knowledge, Social Security beneficiaries can better manage their finances during the holiday season and avoid missing any payments.
