In November 2024, there will be no Social Security payments on November 5, the same day as the presidential election. However, this is purely coincidental. The real reason for the payment schedule change lies in the timing of the regular Social Security check, which is typically issued on November 3. This year, November 3 falls on a Sunday, and because the Social Security Administration (SSA) cannot process payments on weekends or bank holidays, payments scheduled for that day will be moved up to November 1.
Let’s look deeper into these changes and what they mean for retirees and Supplemental Security Income (SSI) recipients.
Schedule
This change affects many Social Security beneficiaries, particularly those 62 and older who are expecting their regular payments on November 3. The SSA has confirmed that these checks will instead be issued on November 1, 2024, giving retirees access to their funds 48 hours ahead of schedule. While this is earlier than usual, it’s not expected to disrupt your financial planning.
For those who rely on both Social Security and SSI, November 1 could be an interesting day. SSI payments are typically issued on the first of the month, and this means that eligible beneficiaries who receive both Social Security and SSI will see both payments arrive on the same day—something that doesn’t usually happen. It’s an unusual but welcome surprise for those in this situation.
COLA Increase
Another important note: the November 1 Social Security payments will not include the 2025 Cost-of-Living Adjustment (COLA). Even though the 2025 COLA, a 2.5% increase, has been announced, this boost in benefits will not kick in until December 31, 2024, for SSI recipients and in January 2025 for retirees.
So, don’t expect a larger check in November. The increase will come with the first payments of 2025, which will be distributed on January 3, 8, 15, or 22, depending on your birthdate.
Payment Details
To give you a better sense of what to expect in November, here are some average payment amounts:
| Payment Type | Amount (Approximate) |
|---|---|
| Social Security Retirement Payment | $1,920 |
| SSI Payment (Individual) | Up to $943 |
| SSI Payment (Married Couples) | Up to $1,450 |
| Average SSI Payment | $698 |
It’s important to note that many people who receive both Social Security and SSI may see reductions in their benefits due to overlap. If you’re one of those recipients, your payment might be lower than expected.
Early Payment Pros and Cons
Getting your Social Security payment earlier than expected might sound like a great deal, but it comes with its own considerations. For one, receiving both SSI and retirement benefits on the same day could impact your budgeting for the month. If you’re used to receiving payments at different times, you may need to plan ahead to make your money last until your next payment date in December.
Additionally, while receiving funds 48 hours early may feel like a windfall, it’s crucial to remember that this is still your regular benefit—just arriving ahead of time.
What to Expect Next
As we move toward the end of the year, it’s worth noting that changes are coming with the 2025 COLA increase. While you won’t see this reflected in your November payments, you can expect the extra 2.5% to start benefiting you in December or January. This increase is designed to help you keep up with rising living costs, providing a little extra cushion to cover expenses.
Looking ahead, stay tuned for updates from the SSA about any further schedule changes or updates as we approach 2025. Always double-check your payment dates, especially if you rely on this income for budgeting and financial planning.
As always, if you have any concerns or questions about your benefits, it’s a good idea to contact the SSA or visit their website for more detailed information.
Expect your November 1 payment to arrive without the COLA increase, and make sure to budget accordingly as we head into the holiday season.
FAQs
Will I get a Social Security payment on November 5?
No, there will be no payments on November 5.
Why are November payments moved up?
November 3 falls on a Sunday, so payments are issued early.
Do November checks include the 2025 COLA increase?
No, the COLA increase takes effect in December 2024 or January 2025.
Can I get both SSI and Social Security on the same day?
Yes, on November 1, 2024, you may receive both if eligible.
What’s the average November Social Security payment?
The average payment for retirees will be around $1,920.
