Social Security recipients have something extra to look forward to this December.
Due to calendar adjustments and holiday considerations, some beneficiaries will receive additional payments, making December a critical month for financial planning.
Here’s a detailed breakdown of who qualifies, the payment schedule, and tips to manage your benefits effectively.
What Are the Extra Payments?
The term “extra payment” primarily refers to Supplemental Security Income (SSI) beneficiaries who receive two payments in December.
This occurs because January 1, 2025, is a federal holiday, and January’s SSI payment will be issued on December 31, 2024.
Key Payment Details
| Detail | Description |
|---|---|
| Who Receives Extra Checks? | Primarily SSI beneficiaries. |
| Payment Dates | November 29 (for December 1), December 11, December 18, December 24, and December 31. |
| Reason for Extra Payment | January 2025 benefits paid early due to New Year’s Day holiday. |
| COLA Increase | A 2.5% cost-of-living adjustment (COLA) starts January 2025. |
| Official Resource | Visit the Social Security Administration’s website. |
Understanding the December Payment Schedule
1. Supplemental Security Income (SSI)
- Regular December SSI Payment: Scheduled for December 1 but issued early on November 29, 2024, because December 1 is a Sunday.
- Early January 2025 SSI Payment: Issued on December 31, 2024, to account for the New Year’s Day holiday.
Result: SSI recipients will see two payments in December—one for December and one for January.
2. Social Security Disability Insurance (SSDI) and Retirement Benefits
SSDI and retirement payments follow the standard schedule based on birth dates:
- December 11, 2024: Birthdays on the 1st–10th.
- December 18, 2024: Birthdays on the 11th–20th.
- December 24, 2024: Birthdays on the 21st–31st (adjusted for Christmas).
Example: If your birthday is December 15, your payment will arrive on December 18.
3. Why Are Dates Adjusted?
Payment adjustments ensure beneficiaries receive funds on time, even when holidays or weekends disrupt the regular schedule.
Who Is Eligible for the Extra December Payment?
The additional December payment applies primarily to SSI recipients. SSI benefits support low-income individuals who are:
- Aged 65 or older.
- Blind or disabled, according to SSA criteria.
- Meeting income and resource limits.
Eligibility Tip: Use the SSA’s Eligibility Screening Tool to check if you qualify for SSI benefits.
What About the COLA Increase?
Social Security benefits include a 2.5% cost-of-living adjustment (COLA) starting January 2025. This increase ensures payments keep pace with inflation.
- SSI Recipients: The COLA increase will reflect in the December 31 payment, covering January 2025 benefits.
- Other Beneficiaries: The increase will appear in January 2025 payments.
Example of COLA Impact
| Current Monthly Benefit | New Monthly Benefit (2.5% Increase) |
|---|---|
| $1,000 | $1,025 |
| $1,500 | $1,537.50 |
COLA is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), reflecting inflation trends.
How to Check Your Social Security Payments
- Log Into Your SSA Account
Access the My Social Security portal to view payment history, future dates, and COLA updates. - Verify Direct Deposit Details
Ensure your banking information is current to avoid delays. Payments sent via mail may take longer, especially during the holidays. - Contact the SSA for Help
If your payment is delayed, call 1-800-772-1213. Allow at least three business days after the expected payment date before contacting them.
Managing Your Benefits During the Holidays
1. Plan for Two SSI Payments
Receiving two SSI payments in December can feel like a windfall, but remember: the second payment is for January 2025 expenses. Budget accordingly to avoid shortfalls.
2. Watch Out for Scams
Scammers often target Social Security recipients with fake calls or emails during the holiday season. Stay safe by:
- Avoiding sharing personal information.
- Verifying any suspicious communication directly through the SSA.
3. Consider Direct Deposit
If you still receive checks by mail, switching to direct deposit can ensure faster and more secure payments, especially during busy holiday periods.
4. Use Budgeting Tools
Apps like Mint or YNAB can help you track expenses and allocate your December payments effectively.
December 2024 offers a unique payment schedule for Social Security beneficiaries, especially SSI recipients who will receive two payments.
Understanding these adjustments can help you plan better, take advantage of the upcoming COLA increase, and ensure a stress-free holiday season.
