Not all American retirees receive their Social Security payments on the same date each month. For November 2024, there are four scheduled paydays, with the first payments issued on November 1. The remaining payments will be distributed on November 13, 20, and 27. Here’s everything you need to know about Social Security payment dates this November, who qualifies for each payday, and what determines payment amounts.
Payment Schedule
Social Security payments are scheduled according to the beneficiary’s birth date. Those born earlier in the month typically receive their payments sooner. Below is a breakdown of the November 2024 payment dates based on birth dates:
| Birth Date Range | November 2024 Payment Date |
|---|---|
| 1st – 10th | Wednesday, November 13 |
| 11th – 20th | Wednesday, November 20 |
| 21st – 31st | Wednesday, November 27 |
For beneficiaries born on or after the 21st of any month who don’t receive SSI payments or started receiving Social Security after May 1997, the last payment date in November, November 27, is relevant.
Average and Maximum Amounts
On average, retirees can expect to receive about $1,921 in monthly Social Security benefits. However, the actual amount varies based on factors such as earnings history, work duration, and the age at which you filed for benefits. Here’s an outline of payment amounts:
- Average Social Security Payment: $1,921
- Maximum Payment at Full Retirement Age (FRA): Up to $3,822
- Maximum Payment at Age 70: Up to $4,873
Those who delay filing until age 70 and worked 35 years at or near the taxable maximum can receive the highest benefit amounts due to delayed retirement credits. By filing at your full retirement age, you’ll receive 100% of your benefits, but without the increase from delayed credits.
Factors
Social Security benefits differ across recipients, largely due to work history, earnings, and the filing age. Here are some of the factors that influence Social Security payment amounts:
- Work Duration and Earnings: Retirees with longer work histories and higher taxable earnings typically receive higher benefits. Those who worked fewer years or had lower earnings may receive smaller monthly checks.
- Filing Age: Filing before your full retirement age reduces your monthly benefit. Filing at age 62, the earliest eligibility age, results in a lower payment, while waiting until age 70 provides the highest possible benefit due to delayed credits.
When to Expect
None of the November payments will include the 2025 cost-of-living adjustment (COLA). The 2.5% COLA increase for 2025 will be applied to January benefits, which are scheduled to be disbursed on January 3, 8, 15, and 22, 2025. This adjustment is aimed at offsetting inflation and ensuring retirees maintain their purchasing power.
While the November payments remain unaffected by the COLA, retirees can look forward to a modest increase in their monthly checks starting in January 2025. The 2.5% adjustment will apply to all Social Security beneficiaries, including those receiving retirement and disability benefits (SSDI).
With November payments arriving according to schedule and the 2025 COLA increase on the horizon, retirees can plan their budgets accordingly. For those awaiting the COLA increase, January 2025 will bring a welcome boost to monthly Social Security benefits.
FAQs
When is the next Social Security payday in November?
The next payday is November 13 for birth dates from 1-10.
What is the average Social Security benefit?
The average monthly Social Security benefit is $1,921.
When will the 2025 COLA increase start?
The 2025 COLA increase begins with January 2025 payments.
What is the maximum Social Security payment?
The maximum payment at age 70 is up to $4,873.
Why do some retirees get lower payments?
Lower payments can result from early filing, lower wages, or shorter work history.
