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Social Security Benefits: Find Out The Date On Ehich You Will Receive Your November Payments

Social Security Benefits
Social Security Benefits; Source- Newsweek

Thanks to the much awaited release earlier this month from the Social Security Administration (SSA), Social Security recipients now know the amount of the annual COLA in 2024. The COLA is predicted to be 3.2% in 2023, which is significantly lower than the 8.7% COLA in 2023 but still ranks third over the previous twelve years.

Social Security Benefits

Social Security Benefits; Source- CNET

Social Security COLA 2024

The 3.2% COLA will be paid to over 66 million Social Security recipients starting in January 2024, according to a news statement from the SSA. Starting on December 29, 7.5 million recipients of SSI benefits will get larger payouts. The overall mean Social Security retirement income, which was $1,793.51 per month as of September 2023, would increase by $57.39 per month with a COLA of 3.2%. Compared to the average monthly rise of almost $146 calculated on the 2023 COLA, that represents a considerable decrease.

SSI Payment For November

However, people receiving Social Security will continue to receive benefits under the 2023 increase for a further two months before the new COLA takes effect. After SSI recipients did not receive any payments in October, the payment schedule resumes its regular timetable in November. SSI recipients receive two installments in March, June, September, and December, but no payments are made in January, April, July, or October due to an oddity in the payment schedule. One Check is issued for the following four months February, May, August, and November.

Payment Schedule For Social Security Benefits

November 2023 will go according to the same schedule as every other month. Depending on your birthdate, retirement payments have been paid on the 2nd, third, as well as fourth Wednesday of each month. Your money will be sent to you on November 8, the 2nd Wednesday of the month, if your birthday falls between November 1st and November 10th. You will be compensated on the 3rd Wednesday (Nov. 15) if your birthday comes between the eleventh and twentieth of the month. The 4th Wednesday (Nov. 22) is when those whose birthdays fall between November 21 and November 31 will be paid. Social Security will be paid on November 3 if you were eligible for it before to May 1997 or if you get both SSI and Social Security benefits.

The Social Security Administration suggests that you wait three more mailing days before calling the agency if your payment isn’t received on the day that it should. After that, you can give the agency a call at 800-772-1213, 8 a.m. to 7 p.m., Monday through Friday. The SSA’s TTY line can be reached by those who are hard of hearing at 800-325-0778.

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