As the holiday season approaches, Social Security recipients are navigating a payment schedule that can vary depending on their birth date and benefit type. November 2024 offers a few unique situations for retirees, Supplemental Security Income (SSI) beneficiaries, and others. Here’s a complete breakdown to help you plan ahead.
Social Security Paydays
For most beneficiaries, Social Security payments are distributed on a schedule determined by their birth date:
- Before May 1997: Payments are issued on the 1st of each month.
- Birthday on the 1st–10th: Payments are issued on the second Wednesday (November 13).
- Birthday on the 11th–20th: Payments are issued on the third Wednesday (November 20).
- Birthday on the 21st–31st: Payments are issued on the fourth Wednesday (November 27).
Double Payments
This November, SSI recipients will receive two payments due to a scheduling adjustment. Normally paid on the first of the month, December’s SSI payment will be issued early, on Friday, November 29, 2024. This change happens whenever the 1st falls on a weekend or holiday—in this case, Sunday, December 1.
Preparing for 2025 Payments
Looking ahead, Social Security recipients can expect a 2.5% Cost-of-Living Adjustment (COLA) in 2025. This marks a moderate increase compared to previous years, reflecting cooling inflation trends:
| Year | COLA Increase |
|---|---|
| 2023 | 8.7% |
| 2024 | 3.2% |
| 2025 | 2.5% |
The 2025 COLA adjustment will take effect with January payments, offering recipients a slight boost to offset rising costs.
How to Update
If you need to update your direct deposit or payment details with the Social Security Administration (SSA), here’s how:
- Online (for Social Security benefits): Create or log in to your my Social Security account on the SSA website.
- By phone (for SSI): Call the SSA at 1-800-772-1213 and provide your updated routing and account numbers.
- Direct Express Debit Card: For those without a bank account, you can opt for the Direct Express debit card, which deposits your payments directly onto the card. Call 1-800-333-1795 to enroll.
Reporting Missing Payments
If your payment doesn’t arrive on time:
- Check with your bank to see if there’s a delay in posting.
- Contact the SSA at 1-800-772-1213 (TTY: 1-800-325-0778).
- Visit your local Social Security office for further assistance.
Federal Holidays
Federal holidays can also affect Social Security payments. If a scheduled payment date falls on a federal holiday or weekend, payments are typically made on the preceding business day.
Federal Holidays Schedule
| Holiday | Date |
|---|---|
| New Year’s Day | January 1 |
| Martin Luther King Jr. Day | 3rd Monday in January |
| Veterans Day | November 11 |
| Thanksgiving Day | 4th Thursday in November |
| Christmas Day | December 25 |
For example, when a holiday falls on a weekend, the closest weekday becomes the observed holiday (e.g., Friday for Saturday holidays).
Social Security payments are a vital part of financial planning for retirees, and addressing the schedule helps recipients better manage their funds. As the festive season approaches, being aware of your payment dates ensures you’re prepared for holiday expenses and beyond.
FAQs
Who gets paid on November 27?
Beneficiaries born between the 21st and 31st of any month.
Why are there two SSI payments in November?
The December 1 payment is issued early due to a weekend.
What is the 2025 COLA increase?
A 2.5% adjustment to Social Security benefits.
How do I report a missing payment?
Contact the SSA at 1-800-772-1213 or visit your local office.
Can I update my direct deposit online?
Yes, through the SSA’s my Social Security account portal.
