Cyber Monday marks the end of a busy shopping season, but for millions of Social Security beneficiaries, it also signals the countdown to their next monthly payment. The first Social Security payment following Cyber Monday will arrive on Tuesday, December 3, 2024, bringing relief to those who may have spent heavily on Black Friday deals or Thanksgiving festivities. Here’s what you need to know about upcoming payments, eligibility, and amounts.
December 3 Payment
The Social Security payment scheduled for December 3 is specifically for two groups of recipients:
- SSI and Social Security Recipients: Those who receive both Supplemental Security Income (SSI) and Social Security benefits simultaneously.
- Early Retirement Beneficiaries: Individuals who began receiving retirement benefits before May 1997.
Considerations
- SSDI Recipients: If you receive Social Security Disability Insurance (SSDI) and meet the criteria above, this may also be your payment date.
- Eligibility: Beneficiaries must remain eligible and in compliance with SSA rules to receive their payment on time.
Payment Schedule
While the December 3 payment is one of the earliest, other Social Security payments will follow the regular schedule throughout the month. The key exception is the December 31 SSI payment, which includes the 2025 Cost-of-Living Adjustment (COLA) increase.
| Payment Date | Eligible Group |
|---|---|
| December 3, 2024 | SSI and Social Security recipients before May 1997 |
| December 13, 2024 | Recipients with birthdays between the 1st and 10th |
| December 20, 2024 | Birthdays between the 11th and 20th |
| December 27, 2024 | Birthdays between the 21st and 31st |
| December 31, 2024 | January 1 SSI payment (with COLA increase) |
Payment Amounts
For December, payment amounts remain the same, with an average monthly benefit of $1,927 according to the SSA’s COLA Fact Sheet. The largest possible payments depend on factors like age at filing, work history, and earnings:
- Maximum Benefit at Age 70: Up to $4,873 per month if you earned the taxable maximum and worked for 35 years.
- Maximum Benefit at Full Retirement Age (FRA): Up to $3,822.
- Maximum Benefit at Age 62: Up to $2,710.
The SSI payment issued on December 31 will reflect the 2025 COLA increase, ensuring recipients begin the new year with a boost in benefits.
Payment
As the December 3 payment approaches, beneficiaries should ensure their banking information is up to date to avoid delays. Direct deposit ensures faster access to funds compared to receiving a paper check.
With the holiday season in full swing, timely Social Security payments are crucial for many retirees. Whether you’re receiving SSI, retirement, or SSDI benefits, knowing the December payment schedule helps ensure smooth financial planning as the year comes to a close.
FAQs
Who gets the December 3 Social Security payment?
SSI and early retirement beneficiaries before May 1997.
Will the December 31 SSI payment include the COLA?
Yes, it includes the 2025 Cost-of-Living Adjustment.
What is the maximum Social Security payment for 2024?
Up to $4,873 if filed at 70 and earned the taxable maximum.
When is the next payment after December 3?
The next payment is on December 13 for certain retirees.
How much is the average Social Security benefit?
The average benefit is approximately $1,927 per month.
