Are you receiving Social Security benefits each month? If you’re getting money from the Social Security Administration (SSA) each month, you need to know when Social Security payments are made each month so that you are able to budget that money. When Social Security payments are sent depends on what type of benefit you receive and other factors. This guide contains everything you need to know about receiving Social Security benefit payments in 2024.
If you are receiving Social Security benefits you probably want to know when you will receive your February Social Security benefits so that you can budget for the month. Social Security benefit payments are sent on a schedule that depends on several factors, including the kind of Social Security benefit that you receive.
Now that people getting Social Security know they'll be getting more money in 2024, the next thing to figure out is when that money will actually show up. The Social Security Administration recently shared the payment schedule for 2024, and it follows the same routine as always.
In October 2023, the SSA announced a 3.2% increase in the cost of living for 2024. This means the monthly averages for each type of Social Security benefit saw an increase of 3.2% starting in January 2024.
Seniors who are retired, people who are sick and can’t work, and children who have serious illnesses rely on Social Security benefit payments to help pay for their living and medical costs. Without Social Security payments the parents of sick children, people who are disabled and can’t work, and seniors who have retired would struggle to pay for housing, food, utilities, and other necessities.
If you receive Social Security benefits and rely on those benefit payments for things like your housing, utilities, and other necessities it’s important to understand what changes are coming to Social Security in 2024 and when you will get Social Security benefit payments in 2024. To help make it easier to understand the 2024 Social Security COLA and other changes, and to let you know when you can expect to receive your benefit payment, we’ve put together this guide. Here’s everything you need to know about the Social Security benefit payment schedule for 2024.