This December, a surprise is in store for some Americans: an additional Social Security payment that will bring them more money by the year’s end.
If you’re a Social Security beneficiary, you might receive more than you expect due to an irregularity in the payment schedule.
Who Gets the Extra Check?
Not everyone will receive this bonus payment, as it comes with specific criteria.
To qualify, you must be already receiving Supplemental Security Income (SSI) and have set up Direct Deposit, which is the automatic way to receive Social Security benefits.
When Will the Payments Arrive?
Eligible recipients will see this bonus arrive at the end of December. On January 1, you can expect to get up to $967 for your regular SSI payment.
And on December 31, thanks to the extra check, you'll get a bit more. Remember, Direct Deposit is a must to get this December bonus; otherwise, you'll have to wait until January.
Why Is the Bonus Payment Larger?
The extra amount you'll notice in your December check is because of a cost-of-living adjustment (COLA). The US Government announced back in October that there would be a 2.5% increase starting in 2025 to help people cope with inflation.
Since the extra December payment is actually January's first SSI payment of the next year, it will include this increase—meaning more money in your pocket!
Remember, you'll only see this increase on December 31 if you meet the eligibility requirements and have Direct Deposit set up. If you do, you'll end the year with a financial bump to your benefit.
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