INDIANA— In an unusual twist to the usual payment schedule, Social Security beneficiaries can expect three separate payments from the Social Security Administration (SSA) in November. This change arises from a scheduling error, meaning beneficiaries will receive two Supplemental Security Income (SSI) payments and their standard monthly Social Security check on November 1. However, no SSI payment will be issued in December.
Typically, SSI payments are disbursed on the first business day of each month. The upcoming November payment will be unique due to a scheduling snafu that affected about 7.5 million SSI recipients. The issue stems from the fact that September 1 fell on a Sunday, prompting the SSA to advance that month’s SSI payments to Friday, August 30. As a result, SSI beneficiaries will receive two payments in November but none in December, leading to potential budgeting challenges for those who rely on this support.
In addition to the two SSI payments, the SSA is set to implement a 2.5% cost-of-living adjustment (COLA) starting in January 2025. This adjustment is expected to increase monthly payments by approximately $50, a welcome boost for many beneficiaries. However, this raise is noticeably smaller than the average 2.6% COLA increase over the past decade.
Another significant change announced for 2025 involves increasing the Social Security tax for high-income earners. The “taxable maximum” amount, the limit on earnings subject to Social Security tax, will rise by $7,500, from $176,100 in 2024 to $183,600 in 2025. This adjustment reflects ongoing inflation and wage growth.
The SSI program is designed to support individuals with limited income and resources, including those who are blind, elderly (65 or older), or have a qualifying disability. While the prospect of receiving an extra payment in November might seem advantageous, the absence of a December payment could create cash flow challenges for some beneficiaries.
Beneficiaries are encouraged to plan accordingly as they navigate this atypical payment calendar. The SSA aims to clarify future schedules, as the changes may continue to affect SSI distributions throughout 2025. For now, November promises an unusual but potentially confusing financial month for Social Security recipients.
