Every month the Social Security Administration sends out millions of payments to beneficiaries. The benefit amount that is paid out to recipients varies depending on the personal situation of beneficiaries. The government agency issues annual official estimates to offer a broader picture to know in advance the possible amount of Social Security benefits.
These payments go to retired workers, their spouses and survivors, as well as disabled workers and their family members. Additionally, adults and children with disabilities may be eligible for Supplemental Security Income (SSI).
In order to handle the immense number of monthly payments SSA pays different groups of beneficiaries on specific days or dates each month. Because of that, there are some months when one particular group of beneficiaries, those who receive SSI payments, are sent two payments in the same month.
When are Social Security payments distributed?
Regardless of the category to which the recipient belongs, payments are made on a monthly basis. The exact date of distribution is linked to the beneficiaries’ day of birth. People born between the 1st and 10th receive the money on the second Wednesday of the month. Those born between the 11th and 20th receive it on the third Wednesday, and those born between the 21st and 31st receive it on the fourth.
SSI beneficiaries and workers who retired before May 1997 are not covered by the above scheme, since they receive their money at the beginning of the month, regardless of their date of birth. If the payment date falls on a weekend or holiday, the check is advanced to the previous business day. Therefore, some beneficiaries may sometimes receive a double payment in one month.
Double Social Security payment: when is the last one for 2024?
Given how the Social Security payment schedule works, there will be one more month this year in which the agency will issue two payments to some beneficiaries. This will take place in November for SSI recipients.
- Friday, Nov. 1: SSI recipients and recipients who began receiving payments before May 1997
- Wednesday, Nov. 13: Beneficiaries with birth dates between the 1st and the 10th
- Wednesday, Nov. 20: Beneficiaries with birth dates between the 11th and the 20th
- Wednesday, Nov. 27: Beneficiaries with birth dates between the 21st and the 31st
- Friday, Nov. 29: SSI recipients (payment for December)
Increase in Social Security payments
The Social Security Administration increases payments each year to adjust the amount of the checks to current inflation, with the goal of avoiding purchasing power reduction when prices rise. This increase is known as the Cost-of-Living Adjustment or COLA.
The increase for the year 2024 was pegged at 3.2%, while the 2025 adjustment announced in October, will be 2.5% and applied to payments made for January 2025.
In 2024, the average monthly payment for a retiree is $1,907. For couples filing jointly, the figure rises to $3,303 per month. For SSI recipients, the average payment is $943 per month for individuals and $1,415 for couples.
