Good news for Social Security recipients – December brings special payment schedules and information about increases coming in 2025. With over 70 million Americans depending on Social Security benefits, here’s what you need to know about upcoming payments and changes.
December’s Special Payment Schedule
Because of the holiday season, the Social Security Administration (SSA) has arranged a special payment schedule for December 2024. Payments will go out on four different dates:
- Tuesday, December 3: If you started receiving Social Security before May 1997, you’ll get your payment on this date
- Wednesday, December 11: For those who started after May 1997 and were born between the 1st and 10th of any month
- Wednesday, December 18: For people who started after May 1997 and were born between the 11th and 20th
- Tuesday, December 24: For recipients who started after May 1997 and were born between the 21st and 31st
If you don’t receive your payment on schedule, don’t worry right away. The SSA suggests waiting three extra mailing days before becoming concerned about delays.
Current Payment Amounts
The amount you receive from Social Security depends largely on when you started taking benefits. Here’s what people are currently receiving on average:
- General average payment: $1,900 per month
- Those who started at age 62: $2,710 per month
- Those who waited until age 67 (full retirement age): $3,822 per month
- Those who delayed until age 70: $4,873 per month
Good News: Increases Coming in 2025
Starting January 2025, all Social Security recipients will see their checks increase by 2.5% due to the Cost of Living Adjustment (COLA). This increase helps people keep up with rising prices of everyday items and services. Here’s how the increases will look:
For Retirees:
- The general average payment will go up from $1,900 to $1,948 (a $48 increase)
- Age 62 benefits will increase from $2,710 to $2,778 (up $68)
- Full retirement age benefits will rise from $3,822 to $3,918 (up $96)
- Age 70 benefits will grow from $4,873 to $4,995 (up $122)
Other Benefits Are Increasing Too:
Survivor Benefits:
- Average payments will increase from $1,505 to $1,543
- Individual survivors will see an increase from $1,773 to $1,817
- Families with two children will receive $3,744, up from $3,653
Disability Benefits:
- Average payments will go up from $1,537 to $1,575
- Blind recipients will see an increase from $2,590 to $2,655
- Maximum payments will rise from $3,822 to $3,918
Supplemental Security Income (SSI):
- Average payments will increase from $698 to $715
- Individual payments will go up from $943 to $967
- Couples will receive $1,450, up from $1,415
- Essential person benefits will increase from $472 to $484
Helpful Tips for Recipients
To make the most of your Social Security benefits, keep these tips in mind:
- Create a “My Social Security” account online. This lets you:
- Check your payment history
- See your benefit statements
- Handle account changes easily
- If you’re thinking about retirement:
- Consider waiting longer to start taking benefits if you can
- Your payments increase significantly for each year you wait after full retirement age
- The maximum benefit comes at age 70
- If your payment is late:
- Wait three mailing days before getting worried
- After that, contact the Social Security Administration if you haven’t received your payment
Understanding Your Benefits
Your monthly payment amount depends on several factors:
- When you started taking benefits
- How much you earned during your working years
- How much you paid in Social Security taxes
- Your full retirement age
The SSA works to make sure payments arrive on time and adjusts benefits yearly to help recipients manage rising costs. The 2025 COLA increase of 2.5% shows their commitment to helping beneficiaries maintain their purchasing power as prices change.
Also Read:
$1600 Stimulus Checks November 2024 Date: Will You get this? Check Eligibility & Payment Date
Remember, if you need to check on your benefits or have questions, your My Social Security account is the fastest way to get information. This online tool gives you 24/7 access to your benefit details and allows you to manage your account whenever you need to.