Although the timing of Social Security payments allows United States recipients to manage their money to perfection, we occasionally encounter abnormalities that entirely affect our organization.
And one of these abnormalities will arise next December, when a group of Americans will be able to receive an additional check, increasing the amount of money they receive significantly. Especially considering that we will face an increase in the COLA for that extra payout.
So, if you plan to receive your new Social Security payment in December, you should be aware that you may receive a new supplementary check, allowing you to enjoy a significant amount of extra money. All of this occurred during the month of December.
While this is true, it is important to note that not all persons receiving Social Security benefits are eligible for this additional check. In order to receive this money, we must complete certain standards. However, if you meet them, you may be eligible for payment.
Wo can get the bonus track of Social Security money in December?
To be eligible for the money, we must meet a number of 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.
- It is mandatory to have Supplemental Security Income accepted beforehand.
- We must activate Direct Deposit, since the Social Security benefit money appears automatically with this collection method.
With these two prerequisites, we will receive the extra cash at the end of December. With this in mind, we may conclude that on January 1st, we will receive a payment of up to $967 in Supplemental Security Income, and on December 31st, we will receive this additional amount plus a little more.
Why will the extra Supplemental Security Income be higher?
The US government announced a COLA rise in October of last year, which will take effect in 2025. In other words, the first of the 2025 payments will include an additional 2.5%, giving Americans a bit more money to fight with inflation.
As a result of this COLA, we will receive a higher amount in our December 2023 extra check. This is because this check represents the first of next year’s January Supplemental Security Income installments.
As a result, the monetary value of this benefit is higher. Each beneficiary will get a payment of up to $967. So, if you have a maximum check, you will be able to reach it on the next 31st day. Remember that if you do not have Direct Deposit, you will not be able to receive your check in December, but you will be able to do so in the following days.