Social Security payments are a key financial support for many retirees. In October 2024, the Social Security Administration (SSA) issued payments on the 9th and 16th.
However, the agency will not increase retirement benefits until January 2025, even though the cost-of-living adjustment (COLA) for 2025 has already been announced.
Let’s take a closer look at the upcoming Social Security payments, including who gets paid and when.
October 2024 Social Security Payment Schedule
For those whose birthday falls between October 21 and October 31, the SSA will send their Social Security payments on October 23. It’s important to note that this payment will not include any Supplemental Security Income (SSI) payments. If you began receiving benefits before May 1997, this will also not be your payment.
Maximum Social Security Payment Amounts in October
- Retirees aged 70 in 2024 can receive up to $4,873 on October 23.
- People over the age of 65 who filed for benefits at Full Retirement Age (FRA) can get up to $3,822.
- If you filed at age 62, you may receive a monthly payment of up to $2,710, though this amount is less common.
The average Social Security payment for many people is about $1,920 as of August 2024.
November 2024 Social Security Payments
After the October 23 payments, the SSA will continue to send Social Security checks and direct deposits in November. The first retirement payments for November will be issued 48 hours early, which may catch some people by surprise.
For those who receive both Social Security and SSI, there will be an overlap of payments. Social Security retirees will receive their payments on November 1, and SSI recipients will also receive their payments on the same day.
November Payment Schedule
- November 1: Social Security payment for retirees.
- November 13, 20, or 27: Payments for other retirees.
- November 1: SSI payment for those eligible.
In November, there are five planned paydays, which means some retirees will get both their SSI and Social Security checks on the same day.
Why the Change in Schedule?
The reason for the adjustment is simple: the SSI payment for December was set by the SSA on November 29, and because December 1 falls on a Sunday, the payment had to be moved up.
Social Security and SSI payment schedules can be tricky to keep track of, especially around the holidays. Understanding when you will receive your payments and how much you can expect is important for financial planning. Be sure to stay informed about the changes to ensure you don’t miss any payments.
