December Social Security Payments Might Come Early — But There’s a Catch

The U.S. Social Security Administration is altering its payment schedule for December. Beneficiaries should prepare for a change in the dates they receive their payments.

What Happened: The U.S. Social Security Administration, known for providing Supplemental Security Income (SSI) benefits to adults and children with limited income and qualifying disabilities, has announced a change in its payment schedule for December.

Although beneficiaries will not miss a check, they should expect their payments on different days than usual.

Typically, these benefits are paid on the 1st of each month, but holidays and weekends can alter this schedule. The December 1 SSI payment will proceed as planned, but an additional check will be sent out on December 31.

This second payment is actually January’s benefit, paid early due to the New Year holiday. A third payment, for February, will be sent out on January 30, as February 1 falls on a Sunday, reports The Hill.

Also Read: Social Security Payments to Rise 2.8% Next Year, But Most Seniors Say It’s Not Enough to Match Inflation

Traditional Social Security benefits are paid based on the recipient’s birth date. In January, nearly 71 million Social Security recipients will see a 2.8% increase in their payments, or an average of $56 per month, due to the annual cost-of-living adjustment.

This increase will commence on December 31 for the approximately 7.5 million SSI recipients.

Why It Matters: The change in payment schedule could potentially disrupt the financial planning of beneficiaries, especially those who rely heavily on these benefits.

Moreover, many beneficiaries are bracing for an increase in Medicare Part B premiums, estimated to be nearly $18, along with a $26 increase in the annual deductible. This could further strain the financial resources of the beneficiaries.

December Social Security Payments Might Come Early — But There's a Catch

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