Why Social Security Payments Are Paused the Week of November 5
According to Vibes.okdiario, The Social Security Administration (SSA) will not issue any payments on November 5, coinciding with the presidential general election. However, this timing is purely coincidental. There is an important reason why there will be no other payments during that week.
Payment Schedule Change
Typically, a Social Security payment is scheduled for November 3. Since November 3 falls on a Sunday, the SSA cannot issue monthly payments for retirees or disability recipients on a day when offices are closed and banks are not operational. Therefore, the checks will be distributed on November 1 instead.
Social Security Payments for Beneficiaries Aged 62 and Older
The SSA has confirmed that the payment originally scheduled for November 3 will now be issued on November 1, 2024. All eligible beneficiaries will receive their payments 48 hours earlier than their regular payday.
Receiving the Social Security payment ahead of schedule could come as a surprise for many beneficiaries, especially since it coincides with Supplemental Security Income (SSI) payments, which typically arrive on the first of the month.
Impact of the 2025 COLA Increase
It’s important to note that the November 1 Social Security payments will not include the 2025 Cost-of-Living Adjustment (COLA) increase. SSI recipients will see the benefits of the cost-of-living increase starting December 31, 2024. Retirees will receive the 2025 COLA increase in January, with payments scheduled for January 3, 8, 15, or 22.
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Payment Amounts for November
For the November payments, the average Social Security check will be approximately $1,920. However, some retirees may receive significantly less if they:
- Filed for benefits at age 62
- Worked for the minimum number of years
- Did not contribute significantly to Social Security taxes
SSI recipients will receive a payment of up to $943 on November 1, while eligible married couples may get up to $1,450. On average, SSI checks are around $698, but many recipients also receive Social Security benefits, which can lead to reductions in their SSI payments.
