This November presents an unusual twist for millions of Supplemental Security Income (SSI) recipients, who will receive not one, but three checks due to a quirk in the payment schedule. The unexpected windfall may seem like an early holiday bonus, but it’s important for beneficiaries to plan accordingly, especially with no SSI payment scheduled for December.

Why Are There Extra SSI Checks in November?

Typically, SSI payments are issued on the first day of each month. For November, recipients will receive their regular payment on November 1st. However, due to December 1st falling on a Sunday, the December payment will be disbursed early on November 29th. As a result, SSI beneficiaries will see two payments in November along with their regular Social Security check, leading to three deposits in total this month. While it might seem like extra income, there will be no SSI payment issued in December, making budgeting crucial.

What Does This Mean for SSI Recipients?

Though receiving three checks may feel like a financial boost, recipients need to be cautious. Without a December payment, careful planning is essential to ensure funds last through the end of the year. This situation is not unprecedented; earlier in August 2023, a similar payment shift left recipients with two checks, but no SSI payment in September.

COLA Increase for 2025: What to Expect

Looking ahead, SSI recipients can expect a 2.5% cost-of-living adjustment (COLA) increase starting in January 2025. This adjustment, while smaller than previous years, will provide an average monthly boost of $50 to the checks of approximately 68 million Social Security beneficiaries. However, there are concerns that the modest increase may not fully offset rising living costs and inflation.

Planning for Future Payments

As we move toward 2025, beneficiaries should stay aware of future payment shifts. For example, in January 2025, the first SSI payment will be issued on December 31, 2024, due to another calendar adjustment. These quirks in the payment schedule emphasize the importance of keeping informed and planning ahead.

November’s extra Social Security SSI checks offer a financial cushion for many, but also a reminder of the need for prudent money management as the year comes to a close. Stay updated with the latest from the Social Security Administration (SSA) to ensure you’re prepared for any future changes in the payment schedule.