On January 10th, the administration of the Social Security (SSA) sends the third round of payments corresponding to the month of January. The benefits are greater thanks to the cost of living adjustment (COLA), which is 3.2% this year.
This increase affects payments to retirees, survivors and disability benefits.which include Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).
How much money will Social Security transfer in 2024?
According to the SSA, thanks to the 3.2% increase in COLA, it is possible The average payments for all retired workers will rise to about $1,907 by 2024.
The average payments of older couples, where both receive benefits, they rise to $3,033, about, and other social security payments For 2024 they remain as follows:
- Surviving spouse with two children: $3,540 to $3,653
- Single surviving elderly spouse: $1,718 to $1,773
- Employees with a disability, their spouse and one or more children: from $2,636 to $2,720
- All employees with a disability: $1,489 to $1,537
On the other hand, the standard federal payment is of Supplemental Security Income (SSI) will increase from $914 to $943 for individuals and from $1,371 to $1,415 for couples.
It's important to note that the SSA calculates benefits annually on an individual basis based on several factors. In December, the agency informed beneficiaries of the amount of their payments this year. either through the message center of your My Social Security account or by mail with a letter.
To get an estimate of payments in 2024, Add 3.2% to your monthly payments from last year.
Who will receive their Social Security payment on January 10th?
The SSA already sent payments in January to Supplemental Security Income (SSI) recipients and recipients who began receiving Social Security payments before May 1997.
On the other hand, On Wednesday, January 10, send payments to beneficiaries whose birth dates are between the 1st and 10th. He Remaining payments in January Shipping takes place on the following dates:
- Wednesday, January 17th: Payouts for beneficiaries with birth dates between the 11th and 20th
- Wednesday, January 24th: Payouts for beneficiaries with a birth date between the 21st and 31st
You can view the full Social Security payment schedule for all of 2024 here.
Social Security payments are deposited via direct deposit to beneficiaries who have provided the SSA with a bank account or by postwhose arrival takes longer.
If you do not receive your payment on the expected date, Please allow three additional shipping days before contacting the Social Security Administration.