Finance

Surprise Alert: Some Social Security Recipients to Get Extra Payments in November!

2024-10-14

Author: Yan

Attention, Social Security recipients!

While most of you expect a single payment each month, this November holds an exciting twist. Due to the calendar's quirks towards the year's end, some seniors, especially those enrolled in Supplemental Security Income (SSI), may receive additional financial support.

The Social Security Administration (SSA) sets its payment schedule well in advance, but the unusual timing could catch some unaware. Here’s what you need to know about the potential extra checks coming your way!

Who Will Get Extra Payments?

Older Americans who rely on the SSI program—designed for disabled individuals and low-income seniors—are in for a treat. Many of these recipients also draw monthly Social Security benefits, which usually kick in once individuals reach the age of 62. It’s a dual benefit scenario that could lead to some lucky recipients getting up to three checks in November!

Payment Schedule: What to Expect

Here’s the rundown of the payment schedule:

1. **November 1:** SSI recipients will see their November payment deposited into their accounts. This is also the date for those who began claiming Social Security before May 1997 or those receiving both SSI and Social Security.

2. **November 29:** A second payment will be issued to SSI recipients, representing the December payment. Since December 1 lands on a Sunday, their usual monthly payment will move to the last Friday in November instead.

So, if you receive SSI, brace yourself for two payments in November! And if you also get Social Security, you’ll see that influx on the 1st as well.

Regular Payment Schedule for Other Recipients

For those receiving Social Security but not SSI, payments will go out according to the standard schedule, which varies based on your birth date:

- **November 13:** For those born between the 1st and 10th of the month

- **November 20:** For those born between the 11th and 20th

- **November 27:** For recipients born between the 21st and 31st

Looking Ahead: Upcoming Cost-of-Living Adjustment (COLA)