The Social Security Administration will not send any checks on November 5, which is the day of the general election for president. But this is just a surprise. But there’s a reason this week there won’t be any other payments.
Every year on November 3, Social Security pays out. Still, November 3 is a Sunday, and the Agency can’t send monthly payments to seniors or people on disability when offices are closed and banks aren’t open. That’s why these checks will be sent out on November 1.
When will the Social Security check be issued for 62-year-olds and older?
The November 3 will be sent out on November 1, 2024, according to the Agency. Because of this, everyone who is qualified will get a new payment 48 hours before their normal payday.
It’s possible that getting this Social Security payment early will bring more shocks. Many people will be shocked when they get both Supplemental Security Income (SSI) and retirement payments at the same time.
Just so you know, the SSI check usually comes on the first. That means it will be great for people who can get both early Social Security payments and SSI at the same time.
Will the November 1 Social Security payments include the 2025 COLA increase?
The extra 2.5% COLA raise will not be added to SSI or Social Security payments in November. On December 31, 2024, people who get Supplemental Security Income will be able to enjoy the rise in the cost of living.
People who are retired won’t be able to get the 2025 COLA raise until January 3, 8, 15, or 22. If you’re wondering how much your November checks will be, the average will be about $1,920. Some people may get a lot less money if they:
- They filed at 62,
- Worked for the minimum number of years and
- Did not pay much money to SSA on taxes
On November 1, people who get SSI will get a payment of up to $943. Married people who qualify can get up to $1,450. Most of the time, SSI checks are around $698. Also, keep in mind that a lot of people who get it also get Social Security, which lowers their payments.
Also See:- These SSDI recipients will receive 2 direct deposits on the same payment date in November