December 18th is just around the corner, and millions of American retirees will receive an early holiday gift. Future social security payments. Amid the preparations for Christmas and the end-of-year financial challenges, this final monthly payment will help millions of families make ends meet.
As mentioned, this will be the last payment of the year, and if you receive the maximum amount of your pension, the amount will be up to $4,783. Thanks to the COLA, your Social Security payments will increase by 2.5% starting January 1, 2025. Although this is a mild adjustment compared to recent years, it is not smaller than in previous years, and will likely lead to a reduction in the burden on household budgets due to the rise in daily living costs.
Who will receive a Social Security payment on December 18, 2024?
Beneficiaries receiving retirement benefits, disability benefits, survivor benefits, or veterans benefits Those who reached the qualifying age between 11th and 20th You can receive this payment in any month.
For those born between the 1st and the 10th, your payment was made last Wednesday, the 11th. If you haven't received your payment, Contact Social Security.
The last Social Security payment in 2024 will be made on the 24th for those who reached eligibility age between the 21st and 31st of each month, and the 25th is a Christmas holiday.
Amount received on the 18th
- The maximum amount at age 62 is $2,710.
- At age 65, it's $3,426.
- At age 66, it's $3,652.
The maximum amount of benefits claimed at full retirement age (age 67 if born after 1960) is $3,822. Those who delay retirement until age 70 are eligible for payments of up to $4,873.
