The next Social Security payment is coming on December 18, which will be like Christmas early for millions of American retirees.
With all the stress of getting ready for Christmas and the economic problems that come with the end of the year, this last monthly payment of the year helps millions of families.
We already said that this is the last payment of the year. If you get the maximum pension, it could be up to $4,783.
Thanks to the COLA, Social Security payments will go up by 2.5% on January 1, 2025. It is not as big of a change as in previous years, but it will help families who are having trouble paying their bills because of the rise in the cost of living.
Who Will Receive the Social Security Payment on December 18, 2024?
This payment will be sent to people who are eligible and reach the age limit between the 11th and 20th of any given month. These people will be getting retirement, disability, survivor, or veterans benefits.
The payment was made last Wednesday, the 11th, for people born between January 1st and October 10th. Please call Social Security if you have not received the payment yet.
If you turn 66 between the 21st and 31st of any month in 2024, you will get your last Social Security payment. It will be on the 24th, since the 25th is Christmas Day and a holiday.
Amounts to Be Received on the 18th
- The maximum amount at age 62 is $2,710.
- At age 65, it is $3,426.
- At age 66, it is $3,652.
The most you can get in payments when you reach full retirement age, which is 67 years old for people born after 1960. People who wait to retire until they are 70 years old can get up to $4,873 in payments.
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