Cyber Monday marks the end of a busy shopping season for many, but it also signals the next Social Security payment for some recipients. If you’re wondering when your next Social Security check or direct deposit will arrive after all the Black Friday and Thanksgiving expenses, keep reading! The Social Security Administration has set up specific payment dates for different groups of recipients. Let’s break down when and how much you’ll get.
Social Security Payments After Cyber Monday
The first payment after Cyber Monday will be on Tuesday, December 3, 2024. This payment is for two specific groups of Social Security recipients:
- SSI and Social Security Beneficiaries: If you are receiving both Supplemental Security Income (SSI) and Social Security benefits at the same time, you’ll receive your payment on December 3.
- Recipients of Social Security Benefits: If you started getting monthly retirement benefits before May 1997, you’ll also receive your payment on this date, as long as you’re still eligible and haven’t broken any SSA rules.
Social Security Payment Amounts After Cyber Monday
In December, most Social Security payments will stay the same, except for the SSI check due on December 31, 2024. This check will include the 2025 Cost of Living Adjustment (COLA) increase. This means the payment for January 1 will be sent one day early to avoid the New Year’s holiday, which is a federal holiday.
On average, retirees will receive about $1,927 in Social Security benefits, according to the SSA’s COLA fact sheet.
How Much Will You Receive on December 3, 2024?
For seniors receiving Social Security benefits, the maximum payment can vary depending on factors like age and how long they worked. Here are the key amounts:
- Up to $4,873: This is the maximum amount for someone who filed at age 70, earned the taxable maximum, and worked 35 years in jobs covered by Social Security.
- Up to $3,822: This is the maximum for those who file at Full Retirement Age.
- Up to $2,710: This is the maximum amount for someone who files at age 62.
| Payment Date | Recipient Group | Payment Amount |
|---|---|---|
| December 3 | SSI and Social Security Beneficiaries | Varies based on eligibility |
| December 31 | SSI Recipients (COLA increase) | Includes 2025 COLA adjustment |
Conclusion
If you’re a Social Security recipient, mark December 3, 2024, on your calendar for your next payment. Depending on your eligibility and work history, the amount you receive may vary. It’s also important to note that the 2025 COLA increase will impact your December 31 SSI payment, so be prepared for a slightly higher amount.
FAQ’s
When will my Social Security payment be after Cyber Monday?
Your payment will arrive on December 3, 2024, if you’re part of the eligible groups mentioned earlier.
Will the Social Security amount change for December?
Most payments will stay the same except for the SSI payment on December 31, which will include the 2025 COLA increase.
How much can I receive on December 3? P
Payments can range from $1,927 on average to as high as $4,873, depending on your filing age and work history.