Thanksgiving and Black Friday week arrives – Social Security has two big-money gifts for retirees

Millions of people should check their bank accounts as Thanksgiving and Black Friday week get closer. The Social Security Administration plans to give some of its recipients two big payments.

For those who are eligible for Supplemental Security Income (SSI) or Retirement, Survivors, and Disability Insurance (RSDI), these payments will be sent to you.

Essential requirements to apply for Social Security as a spouse and get the maximum benefit

Not all retirees, survivors, and disabled people will get the new payment, though. Only people who applied for benefits after May 1997 and were born between 1981 and 1997 will be able to get it.

If you are in this group of beneficiaries, find out when your last payments for this month will be sent to you before they are sent out.

When will the Social Security Administration deliver the maximum $4,873 and $1,415 checks in November?

The SSA has to send out millions of payments every month, so they made a monthly payment schedule so that everyone who gets a payment can find out when it is and mark their calendars. Still, some months have changes because of holidays or weekends.

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For example, there is a big change for people who get SSI benefits in the last week of November. The Social Security payment schedule says that people who get benefits from the SSI program will get them on November 29th, since December 1st is a Sunday.

These people will get the most money on November 29th, when they file as a couple and get $1,415 plus tax.

The government will also send an extra Social Security check worth up to $943 to people who file as individuals.

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Finally, people who meet the requirements for essential person (EP) will get an extra $472 payment on top of their monthly payment for themselves or a partner.

It is important to stress that in order to get this payment, recipients must first meet all of the requirements set by the Social Security Administration.

On the other hand, people who get RSDI will also get another Social Security payment on the fourth Wednesday of every month if they meet the requirements listed above.

The SSA says that these retirees, survivors, and disabled people will get the following amounts of money:

For 2024, the cost of living adjustment (COLA) will add 3.2% to these monthly benefits. This is important to keep in mind. The Bureau of Labor Statistics has finally confirmed the new COLA for 2025.

This means that the values listed will go up again in January 2025. Keep in mind that these monthly payments change based on the needs of each program.

In other words, if you are retired and want to get the maximum benefit of $4,873 a month, you should have put off your benefits until you turned 70 and paid Social Security taxes based on your highest taxable earnings for the past 35 years.

Because meeting these requirements might be hard, we suggest that you talk to a financial advisor or Social Security expert to make sure you understand all the rules and requirements. This could greatly improve your chances of getting this monthly payment.

How much will Social Security checks increase next year for all recipients?

The 2.5% increase for all beneficiaries has finally been confirmed by Social Security. This means that retired workers, survivors, disabled people, and SSI recipients will start getting the extra money in January.

This means that all of these people will get the following amounts of money every month to keep up with inflation and cover all of their basic living costs:

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