Who will receive $914 from Social Security on December 1?
The SSA is preparing to send out the last Social Security and SSI benefits of the year. Find out who will receive their money on December 1.
The year is almost over, so the Social Security Administration (SSA) is preparing to send the last monthly benefits for 2023.
On different dates in December, the SSA will send payments to retired workers and their survivors, that is, to the children, spouses, widows, widowers or parents of a deceased beneficiary.
In addition, it will send disability benefits from the Social Security Disability Insurance (SSDI) and the Supplemental Security Income (SSI) program. We explain who will receive their money on the first day of the month.
Social Security: Who will receive their monthly benefit on December 1?
According to the SSA payment schedule, benefits for Supplemental Security Income (SSI) recipients are sent on the first day of each month, unless the month falls on a Saturday, Sunday or holiday. In that case, payment is advanced to the first business day before.
Therefore, on December 1, the Administration will send the monthly payment to SSI beneficiaries. However, this will not be the only payment they receive in the last month of the year.
You may be interested in: These are the most important changes to Social Security for 2024
The SSA will send a second payment on Friday, December 29. Because Monday, January 1, 2024 is a holiday, the SSI payment for that month is moved forward. In addition, as it is the first payment of 2024, it will be higher thanks to the increase in the cost of living adjustment (COLA) of 3.2%.
For next year,SSI payments will increase from $914 to $943 per month for individuals. On the other hand, benefits for couples will increase from $1,371 to $1,415
Social Security: This is the payment schedule for December 2023
According to the SSA, this is the Social Security and SSI payment schedule for the last month of 2023:
Payments are sent via direct deposit to those who have provided a bank account to the Social Security Administration, which is now federally mandated since 2013. Less than one percent still receive their payment as a paper check via postal mail, which may take additional days to arrive.
The Social Security Administration recommends that those who still receive their benefits in the mail sign up for direct deposit either at their local office or using my Social Security account.
According to the SSA, if you don’t receive your payment when you expect it, wait three days to give allowance for additional shipping needs before contacting Social Security.