As Black Friday approaches, millions of Americans are preparing to spend, including those receiving Social Security payments. For recipients of Supplemental Security Income (SSI), Social Security has scheduled an early December payment on November 29, 2024—the same day as Black Friday.
Here’s what to know about this final November payment, who qualifies, and how it fits into Social Security’s payment schedule.
Why an Early SSI Payment on November 29?
The Social Security Administration (SSA) is issuing the December SSI payment on November 29 due to the regular payment date, December 1, falling on a Sunday.
To avoid delays, the SSA is moving the payment up by two days. Since banks, financial institutions, and SSA offices are closed on weekends, the administration routinely reschedules payments to the last weekday before the original date.
This rescheduled payment is essential for 7.5 million Americans who rely on SSI, as it ensures funds are available ahead of schedule. It’s worth noting that this early payment is not an extra or bonus payment for November—it’s simply the December benefit issued a few days early.
SSI Payment Schedule for November
SSI recipients can expect two payments in November:
- November 1: Regularly scheduled SSI payment for November.
- November 29: Early payment for December (issued on Black Friday).
Since both payments occur in the same month, recipients should budget carefully. The November 29 payment is intended for December, so spending it before December could lead to budget shortfalls later in the month.
Will the Black Friday Payment Include the COLA Increase?
No, the payments on November 1 and November 29 will not include the 2025 Cost-of-Living Adjustment (COLA) increase. SSI recipients will receive the COLA-boosted payment on December 31, 2024, covering their January benefits.
Meanwhile, other Social Security beneficiaries—such as those receiving retirement or disability benefits—will see their COLA-adjusted payments on January 3, 8, 15, or 22, depending on their assigned payment schedule.
The COLA increase, effective in 2025, will help SSI recipients manage inflation, though it doesn’t impact November’s payments.
Maximum SSI Payment Amounts for November
The maximum SSI benefits in November 2024 will remain as follows:
- Individual SSI Recipient: Up to $943
- Eligible Married Couples: Up to $1,415
- Essential Persons: Up to $472
These maximum amounts will not change until the 2025 COLA adjustment takes effect in December.
Reporting Changes to Remain Eligible for SSI
To stay eligible for SSI, recipients must report any changes in income or resources to the SSA. This is essential because unreported changes can lead to overpayments, which recipients may have to repay. Income updates are particularly important as they impact the SSI payment amount.
Budgeting Tips for the November 29 Payment
Since the November 29 payment is technically for December, here are a few budgeting tips:
- Set Aside Funds for December: Avoid spending the early payment on Black Friday purchases unless planned carefully, as it’s meant to cover December expenses.
- Plan for COLA-Adjusted Payments in 2025: The 2025 COLA boost can provide additional relief starting December 31, so budgeting wisely in November can help bridge the gap.
- Report Financial Changes: To prevent any disruptions in benefits, notify SSA of any income or asset changes as soon as possible.
This unique November payment schedule ensures that SSI recipients receive December’s benefit without delay, aligning with the SSA’s commitment to on-time support.
