The Social Security payment schedule allows recipients in the United States to manage their money effectively, although inconsistencies can disrupt the organization.
Next December, a group of Americans will receive an additional check, increasing their total income significantly. Especially given that we would face an increase in the COLA for the additional payout.
If you’re expecting a new Social Security payment in December, there’s a chance you’ll receive an extra check for a significant sum of money. All of this happened in December.
It’s important to note that not all individuals receiving Social Security benefits are eligible for this additional payment. To receive this money, we must fulfill certain restrictions. However, meeting them may result in payment.
Wo can get the bonus track of Social Security money in December?
To be eligible for the money, we must meet certain standards. If we do not achieve these standards, we may still receive the payout, but not in December; we will have to wait until January to enjoy this additional benefit.
Americans seeking this money should keep in mind the following:
- It is mandatory to have Supplemental Security Income accepted beforehand.
- We must activate Direct Deposit, since theSocial Security benefit money appears automatically with this collection method.
With these two prerequisites, we will receive the extra cash at the end of December. On January 1st, recipients will get up to $967 in Supplemental Security Income, followed by an additional payment on December 31st.
Why will the extra Supplemental Security Income be higher?
The US government’s COLA rise, announced in October, will take effect in 2025. The initial 2025 payments will include an additional 2.5% to help Americans cope with inflation.
Due to the COLA in the December 2023 extra check, we will receive a higher payout. This check represents the first of next year’s January Supplemental Security Income installments.
As a result, this benefit comes with a higher payout. Each beneficiary will get a maximum payment of $967. So, if you have a maximum check, you will be able to reach it on the next 31th day. Remember that if you do not have Direct Deposit, you will not be able to get a check in December, but you will be able to do so in the following days.
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