Social Security payments for retirees are coming early this November. Instead of the usual third day of the month, eligible retirees will receive their Social Security checks on November 1, just a day after Halloween.
This is a change from the normal schedule, and it also affects those who receive Supplemental Security Income (SSI). Keep reading to learn about these early payments and how much retirees can expect to receive.
Eligibility for Early Payments
Not everyone will receive their Social Security payment on November 1. Only retirees who have filed for and been approved for Social Security benefits are eligible to receive payments.
In addition, people who qualify for both Social Security and Supplemental Security Income (SSI) will receive both payments on the same day.
Why Payments Are Early in November
Normally, Social Security payments for retirees are sent out on the third day of each month. However, because November 3 falls on a Sunday and banks and SSA offices will be closed, the payments are being moved up.
The new payday for eligible retirees will be November 1, giving them their payment a little earlier than usual.
How Much Will Retirees Get in November?
The amount retirees receive can vary based on factors like their age when they filed for Social Security and their work history.
On average, retirees aged 62 and up can receive about $1,921 per month. However, those who filed for retirement earlier or later in life may receive more or less. Here are the maximum amounts retirees can expect:
- Those who filed at age 62: Up to $2,710
- Those who filed at Full Retirement Age: Up to $3,822
- Those who filed at age 70: Up to $4,873
Remember that these amounts do not include the Cost of Living Adjustment (COLA) increase. That will be added later, in December 2024 for SSI recipients and in January 2025 for Social Security retirees.
Payments for SSI Recipients
If you also receive Supplemental Security Income (SSI), your payment will also arrive on November 1, 2024.
The amount you receive from SSI depends on your income and resources. For most recipients, SSI payments are around $697, but the exact amount can vary.
If you receive both Social Security and SSI, you will get two separate payments on the same day.
This November, retirees can expect to get their Social Security payments earlier than usual—on November 1, 2024. This change is due to the weekend schedule, and it will also affect SSI recipients.
While the payments may vary, those eligible can expect payments based on their work history and retirement age.
Remember, the COLA increase will come later in the year, so the November 1 checks won’t include that extra boost. Make sure to mark your calendars for these early payments!
Why are Social Security payments arriving early in November?
Payments are being sent out early because November 3 is a Sunday, and banks and SSA offices are closed.
Who will receive Social Security payments on November 1?
Only retirees who have filed for and been approved for Social Security benefits will receive payments on November 1.
What is the average amount retirees get in November?
On average, retirees aged 62 and up get about $1,921, but the exact amount can vary based on when they filed for Social Security.
Will my SSI payment also come on November 1?
Yes, if you receive Supplemental Security Income (SSI), your payment will arrive on November 1 as well.
When will the COLA increase be added to Social Security payments?
The COLA increase will be added in December 2024 for SSI recipients and in January 2025 for Social Security retirees.
