December 2024 Social Security Payments: Schedule, Eligibility, and COLA Adjustments Explained

There is good news for retirees, who started receiving their social benefits before May 1997 since the dole out for December 2024 will commence on December 3.

The actual dates of the disbursement will depend upon the beneficiaries’ date of birth. The dates on which the benefits will be released are December 11, 18, or 24.

Beneficiaries are instructed to update their information with the SSA set up direct deposit and also familiarize with the payment schedule.

Social Security benefits are a crucial lifeline of millions of underprivileged American citizens. These dole-outs are lifesavers for millions of Americans who utilize it to pay for their day to day necessities. The first tranche of Social Security payments for the month of December will be released on December 3, 2024. However, it must be noted that only a particular subset of retirees will get their cheques on this day.

Who Will Receive Payments on December 3?

The category who will receive the first Social Security payment in December includes those beneficiaries who started receiving Social Security payments before May 1997.

Hence there are two criterion which must be fulfilled-

On December 3, beneficiaries who fulfil these requirements will get their checks.

The payment schedule will, however, follow a separate set of dates for those who do not fit into this category.

As already mentioned a major section of the beneficiaries will receive the benefits on December 11, 18, and 24, 2024 depending on his or her birthdates.

The beneficiaries’ payments will see their benefits determined on the basis of a 2.5% Cost of Living Adjustment (COLA).

COLA is a measure to ensure that the most vulnerable sections are insulated against the rising costs of living according to rates of inflation.

Retirement Benefits

Average Retiree

Age 62

Age 67

Age 70

Survivor Benefits

Average Survivor

Individual

Two Children

Disability Benefits

Average Disabled

Blind Recipients

Maximum Payment

SSI Benefits

Average Individual

Couples

Essential Person

Also Read: Social Security COLA 2025: New Rates, Payment Updates, and Key Distribution Dates Explained

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