December’s Third SS Payment, Who Will Receive?
Out of every Social Security paycheck that has been done by the Social Security Administration, the main one that has rolled out today is the last one unresolved. Next year’s payment will follow and will be bigger than this one.
Last October, the SSA declared that the COLA (cost-of-living-adjustment) will rise to 8.7 percent in 2023. This is the most considerable SS payment boost ever since the year 1980. Residents who received their December paychecks are still getting a similar 5.9 percent COLA, an adjustment that has not assisted the senior residents with the inflation.
Residents who did not get their paychecks on the exact date of claim may have to wait for three more mailing days before ringing the SSA. Senior citizens who also receive the Supplemental Security Income gains will receive that payment in December.
Third Social Security Payment for December
These payments are given on the primary days of the month, usually. If the date falls on a weekend, there will be no release. If that is it, the payments will be filed on the Friday before the first.
All beneficiaries of Social security can expect much larger money in 2023, benefits are expected to rise by more than $140 monthly in 2023. The average annual benefit for 65-year-olds in 2023 will increase to $30,708 or $2,559 monthly.
In just a few more days, American citizens will finally receive that increase in their monthly paychecks.
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