Some Social Security recipients may have an odd payout of their benefits this month all thanks to the calendar.
In November, those on Social Security who also get Supplemental Security Income (SSI) received two SSI payments. That’s because typically they are sent on the first of the month. The Nov. 1 payment went out on the normal day, but for December, the first was Sunday so the payment went out on Nov. 29, USA Today reported.
A similar thing will happen for February and March payments since Feb. 1 is a Saturday so the payment will be on Jan. 31, while March 1 also hits on a Saturday so that payment will be made on Feb. 28. There will be no SSI payment in the month of March, with the next one occurring on April 1.
To see the complete schedule of payments see below or click here.
Social Security Payments by National Content Desk on Scribd
Meanwhile, there will be a cost-of-living-adjustment (COLA) increase of 2.5% next year, which is just under the average increase.
The administration will add the increase to January Social Security payments while those who receive Supplemental Security Income (SSI) will see their benefits increase on Dec. 31, 2024.
Social Security recipients will receive letters in the mail in December explaining the new benefit amount. They will also get a simplified COLA notice that will be a single page that explains when and how much each payment will be.
For more information visit the administration’s COLA webpage.