Social Security payments are vital for many retirees, disabled individuals, and Supplemental Security Income (SSI) beneficiaries. Knowing the exact payment schedule can help you plan your finances and avoid surprises. Below is a simple guide to the Social Security payment schedule for December and June 2024.
December 2024 Payment Schedule
For December 2024, there is only one payment date to remember: December 31.
- This payment is for SSI beneficiaries.
- It’s issued a day earlier than usual because there are no Social Security payments scheduled for June 1.
Early June Payment Schedule
The first payment in June will be on June 3. Here’s who will receive payments on this date:
- SSI and Social Security Beneficiaries: If you qualify for both SSI and Social Security (retirement or SSDI), you will get your payment on this day.
- Pre-May 1997 Beneficiaries: If you began receiving benefits before December 1997, you’ll also receive your payment on June 3.
Payment Amounts for Early June:
- Average retirement payment: $1,915
- Average SSDI payment: $1,537
Mid-June Payment Schedule
The second round of payments in June will occur on June 12. This applies to:
- Beneficiaries who started receiving Social Security after April 30, 1997.
- Those whose birth dates fall between the 1st and 10th of any month.
Late June Payment Schedule
There are two payment dates to note in late June:
- June 18:
- For people born between the 11th and 20th of any month.
- This date is adjusted because of a holiday on June 19, moving the payment to June 18.
- June 26:
- For people born between the 21st and 31st of any month.
- This payment is for beneficiaries who began receiving benefits after December 1997.
Maximum Payments
For those receiving Social Security payments, here are the maximum possible amounts:
- Maximum SSDI payment: $3,822
- Maximum retirement payment: $4,873
Why Knowing Payment Dates Matters
Understanding your payment schedule ensures you can plan your monthly expenses effectively. Whether you receive SSI, retirement, or SSDI benefits, keeping track of these dates helps avoid financial stress. Mark your calendar and be ready for your specific payment day to ensure you don’t miss it.
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FAQ’s
Who is eligible for the $2,700 payment?
Seniors aged 65 or older who meet the CRA’s citizenship, contribution, and tax requirements are eligible.
When will the payment be distributed?
Payments are scheduled for May 2024, and seniors will receive them via direct deposit.
How do I apply for the $2,700 payment?
Seniors need to apply through the CRA, ensuring accurate submission of banking and personal details.