The Social Security Administration sets a payment schedule every year for people who get money from the retirement, survivor, disabled, and Supplemental Security Income (SSI) programs. This schedule helps millions of people plan by showing them exactly when their payments will come in each month.
As the end of the year draws near, it’s especially important for seniors, disabled people, people who get widow benefits, and people who get SSI to know when their last payments are due for 2024.
Programs that help Seniors and other Groups
There are a number of programs run by the Social Security Administration that are meant to improve the quality of life for retirees, people with disabilities, and people who get SSI. All of these programs have the same goal: to help people who need money the most. Here is a list of these perks and when they will be paid in December.
Retirement benefits program: This is a government program for people aged 62 and up who have worked and paid Social Security taxes for at least ten years.
Social Security Disability Insurance (SSDI) helps people who have long-term illnesses or injuries that keep them from working for a year or more. Giving these people money every month helps them meet their basic wants.
Survivor benefits program: People who have paid into Social Security their whole lives can give some of their benefits to people who depend on them after they die. Dependents who count on the deceased for support include spouses, children, and other family members.
Supplemental Security Income (SSI): This program helps people who don’t have a lot of money or means to pay for basic things like food and housing.
How payments are made by scheme
For giving out rewards, each program has its own set of rules:
- SSI: Payments are made on the first of the month unless it’s a holiday or weekend. In that case, they are made the working day before.
- Before May 1997, people who were entitled to retirement, widow, or disability benefits: The third of every month is when people who started getting these benefits before May 1997 get paid.
After May 1997, people who got benefits for retirement, death, or disability: Payments for these people are based on the date they were born:
- If you were born between the 1st and 10th of the month, you’ll get paid on the second Wednesday.
- If you were born between the 11th and 20th of the month, you’ll get paid on the third Wednesday.
- If you were born between the 21st and 31st of the month, you’ll get paid on the fourth Wednesday.
Things to think about when getting December payments
Some people who are supposed to get money may get two payments in December. As a result of the holidays, the January payment is often sent out early, on the last business day of December. For people who get SSI, this means an extra payment in December that actually goes through January.
Also, keep in mind that even though the dates of Social Security payments are always the same, deposits may sometimes show up in bank accounts the next day. This small delay is usually caused by the bank or other financial institution that is making the payment. However, most payments are paid on time on the date set by the SSA.
