Goodbye to Social Security payments this week in November – Schedule changes have been confirmed

Social Security payments are essential for retirees, providing a reliable source of income that helps cover living expenses and monthly budgets. Knowing when these payments will arrive is critical for planning, and for April 2024, the Social Security Administration (SSA) has set a certified payment schedule. This schedule outlines specific dates for payments, especially for beneficiaries of Retirement, Survivors, and Disability Insurance (RSDI) programs and Supplemental Security Income (SSI) recipients. Adjustments are occasionally made when payment dates fall on weekends or holidays.

Social Security Payment Schedule for November 2024

In November 2024, some Social Security payments will shift for certain beneficiaries due to scheduling conflicts. Specifically, November 3rd falls on a Sunday, meaning that those who claimed RSDI benefits before May 1997 will receive their payments earlier, on Friday, November 1st. Normally, both RSDI and SSI beneficiaries receive their payments on the first of each month.

After the initial November payment, the Social Security Administration will issue three more payments throughout the month, aligned with the typical schedule based on birth dates for those who claimed benefits after May 1997. Here’s the breakdown:

• November 13 (Second Wednesday): Payments for those born between the 1st and 10th.
• November 20 (Third Wednesday): Payments for those born between the 11th and 20th.
• November 27 (Fourth Wednesday): Payments for those born between the 21st and 31st.

Who Receives These Payments?

Social Security payments vary depending on several factors, including eligibility under different programs (such as retirement, survivors, or disability benefits) and other variables such as income, resources, and work history. Additionally, full retirement age (FRA) plays a crucial role in determining the amount beneficiaries receive.

To further clarify, here’s a table showing the average monthly payment amounts for different benefit programs:

Program	Average Payment	Other Payments
Retirement Benefits	$1,900	Age 62: $2,710; Age 67: $3,822; Age 70: $4,873
Survivor Benefits	$1,505	Individual: $1,773; 2 Children: $3,653
Disability Benefits (SSDI)	$1,537	Blind recipients: $2,590; Maximum: $3,822
SSI Benefits	$698	Individuals: $943; Couples: $1,415; Essential person: $472

It’s important to note that qualifying for maximum benefits requires meeting all the SSA’s strict eligibility criteria, such as paying Social Security taxes for a sufficient period and reaching the appropriate retirement age. For those unsure of their eligibility, consulting with a financial advisor or SSA specialist is recommended.

What to Do If Payments Are Late

While Social Security payments are usually delivered on time, delays can occur. If you do not receive your check by the expected date, it’s important to wait at least three mailing days before contacting SSA customer service. Delays are often caused by the bank’s payment process, so this window allows time for any potential processing issues.

Social Security Payments Increase in January 2025

Looking ahead, Social Security beneficiaries will see an increase in their payments in January 2025. The SSA has confirmed that the Cost of Living Adjustment (COLA) for 2025 will be 2.5%, based on current inflation data. This marks one of the smallest increases since the COVID-19 pandemic.

Here’s what the new payments will look like with the 2.5% COLA applied:

Program	New Payment (2025)
Retirement Benefits	Average: $1,948; Age 62: $2,778; Age 67: $3,918; Age 70: $4,995
Survivor Benefits	Average: $1,543; Individual: $1,817; 2 Children: $3,744
Disability Benefits (SSDI)	Average: $1,575; Blind recipients: $2,655; Maximum: $3,918
SSI Benefits	Average: $715; Individuals: $967; Couples: $1,450; Essential person: $484

This COLA adjustment ensures that Social Security payments keep pace with inflation, helping beneficiaries maintain their purchasing power as costs of living rise.