In the United States, Social Security payments follow a strict schedule, allowing beneficiaries to know precisely when they will get their money. The last payment this year will be made in December 2024 for those in the various retiree and disability groups. This adjustment is key to closing out this year’s payment cycle while preparing for the transition to 2025. For those who rely on these payments, knowing the exact dates is essential for effective financial planning.
This December, Social Security beneficiaries have specific dates to get their payments, which vary depending on their group and birthday. To understand the calendar well and ensure you get your payment on time, it is important to know the official dates. As we near the end of 2024, the last payment will arrive just before Christmas, creating uncertainty for some, but peace of mind for others who already know when they will be able to count on the money.
The year 2025 is fast approaching, and with it, the changes that COLA (Cost of Living Adjustment) will bring to adjust payments for inflation. Before that happens, however, it’s necessary to review the crucial dates of the December payments, which mark the conclusion of the annual Social Security cycle.
Who gets the last Social Security in 2024?
The last payment of 2024 will be made on December 24, and will be gotten by retirees and people with disabilities who belong to group 4. This group is made up of those who started getting their benefits after May 1997 and who have a birthday between May 21 and May 31, 1997. These beneficiaries will be able to see the payment reflected in their bank accounts, or on their Direct Express card, on the aforementioned date.
Although the December payment is the last one in 2024, it is not only individuals in New York or other states in particular who get it. These payments are distributed evenly throughout the country, and beneficiaries in all areas of the United States are reached by this system. This payment will be the same as previous months, as no additional COLA adjustment is applied until next year, in 2025.
Social Security beneficiaries should note that while the payment date will be Dec. 24 for group 4, those who do not get their money via direct deposit may see payment a little later, usually up to three days later. This helps avoid delays around the holidays and ensures that people have access to their money on time.
First Social Security payment in 2025
The first Social Security payment of 2025 will be for SSI (Supplemental Security Income) benefits , and will arrive on December 31, 2024 for those who get paid by direct deposit. This payment is especially important because it marks the transition to the new Cost of Living Adjustment (COLA) adjustments that will apply beginning in 2025.
It is relevant to remember that this SSI payment is not the regular payment for retirees or people with disabilities, but corresponds to a specific group receiving this type of financial assistance. These payments will arrive in time to ensure that beneficiaries start the new year with the corresponding adjustments, in accordance with the new COLA. For those who do not get their payment through direct deposit, the payment will be made on January 3rd, 2025.
This first payment of 2025 marks the beginning of a new cycle and is essential for individuals who rely on SSI for their daily well-being. However, it is important to note that not all Social Security beneficiaries will get this first payment, as it is only for those in the SSI program, and other regular payments will follow the established schedule.