The upcoming Social Security payment on December 11, 2024, will be a significant date for U.S. beneficiaries, marking the final check of the year for those born between the 1st and 10th of any month. This includes retirees and individuals receiving disability benefits. However, this payment will not reflect the 2.5% COLA increase, as the adjustment will only take effect with the first payment in January 2025.
This last payment of the year is important for beneficiaries to plan for year-end expenses and to prepare for the upcoming changes in Social Security payments in 2025.
Eligibility for the December 11 Payment
To qualify for the December 11, 2024, payment, beneficiaries must meet the following criteria:
– Be enrolled in the Social Security retirement or disability program.
– Be born between the 1st and 10th of any month.
Payments are scheduled based on the beneficiary’s birth date. Those with birthdays outside this range would have already received their payments earlier. It’s essential to stay informed about your payment schedule to manage your finances properly and avoid budget issues.
If the payment does not arrive on the scheduled date, beneficiaries should contact Social Security promptly to report any issues and follow the necessary steps to resolve delays or errors.
Preparing for 2025
Though the December 11 check will not reflect the 2.5% COLA increase, it’s an ideal time for beneficiaries to review their finances and prepare for the changes in 2025. Here’s an overview of how Social Security payments will change in the new year:
In 2024, the maximum monthly payment for retirement or disability benefits is $3,822. This amount is projected to increase to $4,018 per month in 2025.
The first check of 2025, reflecting the COLA increase, will arrive in January, bringing payments in line with the current cost of living. Until then, the December 11 payment remains critical for those who rely on Social Security to meet their needs.
Staying up-to-date on payment schedules and upcoming changes will help beneficiaries manage their finances effectively and ensure financial stability as 2024 comes to a close.
Read More:
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