Cyber Monday is likely to be the final day in November when many Social Security recipients spend their retirement income. Then they’ll be looking forward to their next monthly payment. Especially if they made major purchases on Black Friday or spent a lot of money on Thanksgiving dinner.
The first Social Security payment after Cyber Monday is due on Tuesday, December 3, 2024. However, this check or direct deposit will only be for two distinct groups of beneficiaries in the United States.
Social Security payment 24 hours after Cyber Monday
The December 3 payment for seniors on Social Security will be yours if:
- You arereceiving SSI (Supplemental Security Income) and Social Security benefits simultaneously
- You began getting monthly retirement benefits before May 1997
- You remain eligible and have not broken SSA rules
So, just after Cyber Monday, the Social Security Administration arranged a monthly payment. If you are getting SSDI compensation due to a medical condition, this may also be your payout if you meet the prior standards.
Social Security payment amounts after Cyber Monday
All payments will stay unchanged in December, with the exception of the SSI check or direct deposit on December 31, 2024. This SSI payout will reflect the 2025 COLA rise.
It will increase the 2025 COLA because it is a January 1 payment planned one day in advance to avoid being sent on New Year’s Day, which is a federal holiday. According to the Social Security Administration’s COLA Fact Sheet, retirees will get an average of $1,927.
The maximum payment due on December 3, 2024, will be up to $4,873 if you filed at the age of 70, earned the taxable limit, and worked 35 years in jobs covered by the Administration. If you meet all of criteria but file at age 62, you might receive up to $2,710, or up to $3,822 at full retirement age.
Also See:- IRS’ largest refundable tax credit in 2024 (over $7,000), check eligibility and claim it