Social Security recipients are starting to look at their money before one of the busiest times of the year, when people spend a lot of money. This is because Halloween is almost over and Thanksgiving and Christmas are almost here.
Everyone is affected by this, but people on fixed incomes need to be especially aware of when and how much money they will be getting. If they don’t, they might have to use their savings to pay for some of the unexpected costs that come with the holiday season.
You don’t need to worry, though, because the Social Security Administration (SSA) has a very clear plan to make sure that everyone gets their benefits on time and without any delays that could hurt their finances.
Even though it may seem obvious, making and understanding a schedule that makes sense can take some work, since not every month is the same. You can only get your payments on days when banks and the U.S. Postal Service are open to deliver them.
This means that if one of the scheduled dates falls on a weekend or a national holiday, the date has to be changed to account for the problem. Many beneficiaries live from paycheck to paycheck, and if they don’t get their benefits on time, they might have to pay late fees or loans that they can’t afford. This is why the date is always moved up.
Social Security payments in November
Some payments can’t be made in November because of the way the calendar works. Social Security gives out a lot of different types of payments. The most important ones are Supplemental Security Income (SSI), Retirement, and Disability payments. The schedule for retirement and disability payments is the same, but the schedule for SSI benefits is different.
For everyone who gets SSI, payments are made on the first of every month. In November, there will be two SSI payments: one for the month of November, which will be sent out on Friday the 1st as planned, and one for the month of December, which will be sent out on Friday the 29th.
Why is this? The 1st of December is a Sunday, so the payment has to be moved to the day before, when banks are open and the postal service delivers mail.
For those who are worried about getting two checks, this means that there will be no SSI payment in December. The cost of living adjustment will already be built into the one SSI check that will be sent out in December. That check will be for January 2025. This is because January 1st is a national holiday for the New Year, so the payment will have to be moved up to December 31st.
If you are retired or disabled, on the other hand, you will get your benefits on time every month. Most of the time.
You can split these payments into two groups. People who started getting benefits before May 1997 and people who started getting them after that.
Those who started before May 1997 will get their retirement or disability payment on the third of every month. However, in November, the third falls on a weekend, so the payment and SSI will be sent on the first of the month.
People who started getting benefits after May 1997 will follow a schedule based on their birth date:
- Those born between the 1st and 10th of the month, will receive their payments on the second Wednesday of the month, November 13th.
- Those born between the 11th and 20th will receive their payments on the third Wednesday of the month, November 20th.
- Individuals born between the 21st and 31st will receive their payments on the fourth Wednesday of the month, November 27th.
