Social Security payments in November 2024 will be a little different this year. Due to a mix of holiday scheduling and the general election, many people will receive their payments earlier than usual. In this article, we’ll explain the changes and what you can expect with your Social Security and SSI checks.
Why Are Social Security Checks Sent Early in November?
Normally, Social Security payments are issued around the 3rd of every month. But since November 3, 2024, is a Sunday and government offices will be closed, the payments will be sent out two days earlier, on November 1. This change is to make sure that people receive their payments when banks are open, and the offices are running.
Who Will Receive Their Payments Early?
Anyone who qualifies for Social Security benefits or Supplemental Security Income (SSI) will get their checks earlier than normal.
If you’re 62 years or older, you can expect your payment to arrive on November 1, 2024, instead of November 3. This is because the first of the month falls on a weekend, and the system can’t process payments when banks and offices are closed.
Will the November 1 Payments Include the COLA Increase?
The November payments will not include the 2025 cost-of-living adjustment (COLA) increase. The 2.5% COLA will be added to Social Security payments in January 2025. However, people who receive SSI benefits will see the COLA increase starting December 31, 2024.
How Much Will People Receive?
The amount people receive will vary based on their individual situation. For example:
- Retired workers: The average Social Security check in November will be around $1,920. But some people might get less if they started claiming Social Security early or didn’t work many years.
- SSI payments: The maximum SSI payment will be $943 for a single person, and $1,450 for a married couple. Most SSI recipients receive around $698, though this amount may be lower for people also receiving Social Security.
Will Receiving Payments Early Cause Any Issues?
Some people may be surprised when they receive both their SSI and Social Security payments on the same day. This can happen when the first falls on the same date as the SSI check.
While it may seem like a bonus, it can also lead to confusion. Be sure to check your payment details so you understand how much you’re actually receiving.
November 2024 will be a month with some unusual scheduling for Social Security payments. While you may get your payments early on November 1, you won’t see the COLA increase until later.
Be sure to check your payment amounts and understand the changes, so you can manage your finances accordingly.
Why are Social Security payments early this month?
Payments are sent early because November 3 falls on a Sunday, and banks and government offices are closed. The payments will go out on November 1 instead.
Will I get my COLA increase in November?
No, the COLA increase will not be added to your payments in November. It will be included starting January 2025.
How much will my Social Security check be in November?
The average payment for Social Security recipients in November is around $1,920, but it can vary depending on your work history and age.
When will SSI recipients get the COLA increase?
SSI recipients will receive the COLA increase starting December 31, 2024.
What happens if I get both Social Security and SSI?
If you receive both, you might get two payments on the same day. This is because the first of the month may align with the SSI payment date.
