Social Security: Why will some beneficiaries receive double payments in December and who are they?
Some Social Security beneficiaries will receive two payments in December. Here are the qualified recipients, the payment amounts, and distribution dates.
As the year comes to a close, the Social Security Administration (SSA) has been issuing the final payments of its benefit program. While the most common recipients are retired workers, the agency also issues payments to adults and children with disabilities who meet certain income requirements. These individuals fall under the Supplemental Security Income (SSI) category.
How much money is received from Social Security?
The average payment in 2023 for a retired worker is $1,848. However, the exact figure depends on various factors, such as the age at which workers request their retirement, the period of years worked, the salary received and the taxes paid to the Social Security program during that time.
As for SSI, which is also given to adults aged 65 or older without disabilities but with low economic resources, the average monthly payment for 2023 is $914 for individuals and $1,371 for couples filing jointly.
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This is how payments are distributed
Payments are made monthly, and the exact payment date depends on the beneficiaries’ day of birth. Those who were born from the 1st to the 10th receive the money on the second Wednesday of the month. Those with a birth date from the 11th to the 20th receive it on the third Wednesday, and those from the 21st to the 31st receive it on the fourth.
SSI beneficiaries, like those who retired before May 1997, do not fall under the previous payment scheme, because they receive payments during the first days of the month, regardless of their date of birth.
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Why will some beneficiaries receive double payments in December?
Given how the Social Security payment schedule works, certain beneficiaries will receive a double payment in December- those who also receive SSI.
SSI beneficiaries received the payment corresponding to the last month of the year on December 1, but next Friday, the 29th, they will receive a second payment. This is because the payment date for the month of January falls on a holiday (New Year), so the SSA advances the month’s payment on the previous business day, which is Friday, December 29.
This second payment will arrive with an increase, resulting in an average check of $943 for individuals and $1,415 for SSI couples, thanks to the 3.2% increase in the cost of living adjustment.