$987.70 + $28.30 Pension Payment in December 2024: Are you anticipating your Social Security or Supplemental Security Income (SSI) payments this December? Here’s everything you need to know about the $987.70 + $28.30 pension payment, including eligibility, payment dates, and how the process works.
Social Security benefits and Supplemental Security Income (SSI) play a vital role in providing financial stability to millions of Americans. Whether you’re a retiree, someone with a disability, or a beneficiary under a needs-based program, staying informed about your benefits is crucial. With December 2024 around the corner, let’s break down how these payments work, eligibility requirements, and what to expect.
$987.70 + $28.30 Pension Payment in December 2024
| Topic | Details |
|---|---|
| Payment Amounts | $987.70 (Social Security) + $28.30 (SSI supplemental amount). |
| Payment Dates | Payments scheduled on December 3, 11, 18, 24, and 31. |
| Eligibility | Based on age, earnings record, or disability (Social Security); limited income/resources (SSI). |
| Process | Direct deposit or Direct Express Debit Mastercard™. |
| Official Resource | Social Security Administration |
What Are These Payments?
The $987.70 and $28.30 represent monthly benefit amounts from Social Security and SSI programs. These programs, administered by the Social Security Administration (SSA), are designed to support eligible individuals by providing a reliable source of income.
Social Security Payments ($987.70)
Social Security benefits are based on your earnings record. This payment serves as a primary income source for many retirees, disabled individuals, and their families. The average monthly benefit in 2024 is approximately $1,827, but your specific amount may vary depending on your work history.
Supplemental Security Income ($28.30)
SSI is a needs-based program that provides financial assistance to aged, blind, or disabled individuals with limited income and resources. The federal base amount for SSI is $914 in 2024, but some individuals receive supplemental payments based on state contributions or unique circumstances.
December 2024 Payment Dates
The SSA has a set schedule for benefit disbursement. Payments in December 2024 will be issued as follows:
Payment Schedule
- December 3, 2024: Beneficiaries who started receiving Social Security before May 1997 or those receiving both Social Security and SSI.
- December 11, 2024: Individuals with birth dates falling between the 1st and 10th of any month.
- December 18, 2024: Beneficiaries with birth dates between the 11th and 20th.
- December 24, 2024: Beneficiaries born between the 21st and 31st (early payment due to the holiday).
- December 31, 2024: SSI recipients’ January 2025 payment (early due to the New Year’s holiday).
Why Are Payments Early in December?
To accommodate federal holidays such as Christmas and New Year’s Day, some payment dates shift. This ensures beneficiaries receive their funds on time.
Eligibility Requirements
Social Security Benefits
To qualify for Social Security benefits, you generally need to:
- Earn at least 40 work credits (approximately 10 years of work).
- Be at least 62 years old for retirement benefits.
- Meet disability criteria if applying for Social Security Disability Insurance (SSDI).
Your monthly benefit amount depends on your average indexed monthly earnings (AIME) during your 35 highest-earning years. Higher earnings result in higher benefits.
Supplemental Security Income (SSI)
Eligibility for SSI depends on:
- Age: 65 or older.
- Disability: Blind or disabled individuals of any age.
- Income and Resources: Limited financial resources (less than $2,000 for individuals, $3,000 for couples).
SSI is not funded by Social Security taxes but rather general tax revenues, and it’s designed to help those who need it most.
How To Receive $987.70 + $28.30 Pension Payment
The SSA offers several convenient ways to receive your payments:
- Direct Deposit: Funds are sent directly to your bank account.
- Direct Express Debit Mastercard™: A prepaid card for those without a bank account.
- Check by Mail: This is rare and generally only for specific circumstances.
Most beneficiaries prefer direct deposit due to its speed and reliability. If you need to update your payment method, log into your My Social Security Account or contact your local SSA office.
Practical Tips to Ensure Smooth Payments
1. Keep Your Information Updated
Ensure the SSA has your correct address, bank details, and contact information. You can update this through your My Social Security Account.
2. Check Payment Dates Regularly
Stay informed about payment schedules by visiting the SSA’s official calendar.
3. Watch for Cost-of-Living Adjustments (COLA)
In 2024, Social Security benefits increased by 3.2% due to COLA. Keep an eye on announcements regarding future adjustments, as these directly impact your benefits.
4. Report Income Changes (SSI)
If you receive SSI, promptly report any changes in income or resources to avoid overpayments or penalties.
5. Understand Your Annual Benefits Statement
Each year, the SSA provides a benefits statement summarizing your earnings and estimated benefits. Review it carefully for errors and ensure your earnings are accurately reported.
Additional Resources and Support
1. Social Security Benefit Calculators
Use tools like the Retirement Estimator to estimate your benefits based on your current earnings and expected retirement age.
2. Local Social Security Offices
Visit or contact your local SSA office for personalized support. Use the Office Locator Tool to find the nearest location.
3. Disability Determination Services (DDS)
If you’re applying for SSDI or SSI due to disability, the DDS can help review your medical records and determine eligibility.
4. Financial Literacy Programs
Consider participating in programs or workshops focused on retirement planning and financial management to better understand your Social Security benefits.
These SSI Checks Coming in December 2024 – Check Eligibility & Exact Payment Dates
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FAQs about $987.70 + $28.30 Pension Payment in December 2024
1. Can I Receive Both Social Security and SSI?
Yes, you can qualify for both programs if you meet the eligibility requirements for each. This is called “concurrent benefits.”
2. What Happens If I Don’t Receive My Payment?
If your payment doesn’t arrive on the scheduled date, wait three business days before contacting the SSA. For assistance, call 1-800-772-1213 or visit your local SSA office.
3. How Can I Estimate My Future Benefits?
Create a My Social Security Account to access your earnings record and use the benefit calculator provided by the SSA.
4. Are Payments Taxable?
Social Security benefits may be taxable depending on your total income. If your combined income exceeds $25,000 (individual) or $32,000 (couple), a portion of your benefits may be subject to federal income tax.
5. Can I Appeal a Benefits Decision?
Yes, if your application for benefits is denied, you have the right to appeal. Start by requesting a reconsideration through the SSA and, if necessary, escalate to a hearing with an administrative law judge.
