In November 2024, the Social Security Administration (SSA) will be issuing direct deposits and checks for retirees on three specific dates. These payments, which average around $1,921, will be distributed based on recipients’ birth dates.
Here’s everything you need to know about the upcoming Social Security payments, including the payment schedule, benefit amounts, and details on dependents’ benefits.
November Payment Dates for Social Security Recipients
For retirees who qualify, SSA will issue payments on the following dates in November, depending on their birth dates:
- November 13 – For retirees with birthdays between the 1st and the 10th of the month.
- November 20 – For retirees with birthdays between the 11th and the 20th of the month.
- November 27 – For retirees with birthdays between the 21st and the 31st of the month.
These dates apply to retirees who did not receive a direct deposit on November 1.
The November 1 payment was reserved for those who began collecting Social Security benefits before May 1997, as well as for recipients of both Social Security and Supplemental Security Income (SSI).
Payment Amounts for November
In November, Social Security payments will continue at the same rates as previous months, as the 2025 Cost of Living Adjustment (COLA) will not take effect until January 2025. This COLA increase, estimated at 2.5%, will apply to the January 3, 2025, payments, boosting benefits by an average of $50 per month.
For November, here’s a breakdown of potential Social Security payment amounts:
| Payment Type | Average Payment | Maximum Payment |
|---|---|---|
| Individual Retiree | $1,921 | $4,873 |
| Spouse (based on retiree’s record) | $909 | Varies |
| Child (based on retiree’s record) | $892 | Varies |
The exact benefit amount varies based on work history, age at filing, and other factors. For instance, retirees who filed at the minimum retirement age of 62 receive a reduced benefit (up to a 30% reduction), while those who waited until full retirement age or later may receive higher monthly payments.
Additional Benefits for Spouses and Children
Once a retiree files for Social Security, their eligible dependents may also qualify for benefits based on the retiree’s record. To be eligible, the spouse or child must meet specific requirements set by SSA:
- Spouses: Spousal benefits average around $909 but depend on factors like the retiree’s benefit amount and the spouse’s age.
- Children: Dependent children can receive average benefits of about $892, as long as they meet SSA’s age and eligibility requirements.
Planning Ahead for the 2025 COLA
While November’s payments won’t yet reflect the 2025 COLA, retirees can expect a modest increase starting in January. The COLA boost of approximately 2.5% means that the average monthly payment could increase by about $50, or $600 annually, helping to offset the rising cost of living.
Key Takeaways for November Social Security Payments
- November Payments: Distributed on November 13, 20, and 27 based on birth dates.
- COLA Increase: The 2.5% COLA boost will start with January 3, 2025, payments.
- Eligibility: Only retirees who have filed for Social Security receive payments, and the filing age impacts benefit amounts.
These scheduled payments provide retirees with financial stability, ensuring a predictable cash flow for monthly expenses.
For those who rely on Social Security as their primary income source, these payments, alongside the upcoming COLA, are essential to managing household budgets.
