Social Security Recipients Can Expect To Receive an “Extra” Payment in November

Among the nearly 72,000 Americans who rely on Social Security and Supplemental Security Income checks to stretch their retirement dollars further , several thousand will see a second SSI payment hit their bank accounts this November.

While the second November payment isn’t actually an extra check (it’s simply December’s benefit paid a few days early), the additional end-of-the-month cash may impact how you structure your budget and approach December’s finances.

Keep reading to find out whether you’ll be impacted by the extra payment and what it could mean for your finances.

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What’s the difference between Social Security and SSI benefits?

The Social Security Administration (SSA) distributes different types of benefits to retired, disabled, or other American workers who no longer work. It also oversees payments to the beneficiaries of American workers who qualify for Social Security but have passed away.

The most commonly recognized benefit overseen by the SSA is Social Security, which is a benefit paid to retired workers and their family members.

While you can claim Social Security benefits as early as age 65, you’ll receive more money per month if you delay receiving benefits until at least your full retirement age.

Along with Social Security, the SSA oversees and distributes three other benefits:

• Supplemental Security Income (SSI) benefits, which are mainly paid to disabled children and adults with limited resources (financial and otherwise)
• Social Security Disability Insurance (SSDI) benefits, which are paid to disabled individuals who are no longer able to work
• Survivor benefits, which are Social Security benefits paid to a spouse or other beneficiaries of a worker who qualified for Social Security but who has since passed away

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Which beneficiaries will receive an extra payment in November?

The extra November payment applies only to those who receive just SSI benefits or both SSI and Social Security benefits. It also applies to individuals who started receiving Social Security benefits before May 1997.

In other words, if you aren’t among the several thousand Americans who receive both Social Security and SSI benefits, applied for Social Security prior to May 1997, or receive just SSI benefits, you won’t see an additional check this month.

Plan on getting your check amount on the same day you usually receive benefits in both November and December.

Why are some beneficiaries getting two payments in November?

While SSI beneficiaries will get a second benefits check at the end of November, this doesn’t mean they’re getting extra money for the year. Instead, it’s an issue of scheduling: the extra check is actually December’s payment being deposited a few days early.

Typically, SSI payments are distributed on the first of the month. Individuals who receive both SSI and Social Security benefits get their SSI check on the first of the month and their Social Security benefits on the third of the month.

Individuals who started receiving Social Security benefits before May 1997 also get their monthly payments on the third.

However, this year, December 1 falls on a Sunday. If a Social Security payment date falls on a holiday or weekend, it is automatically paid out on the closest business day prior to the holiday or weekend.

Since November 30 is a Saturday, the earliest business day before December 1 is Friday, November 29 — which is when the types of beneficiaries listed above will get their December SSI payment.

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Will some beneficiaries get three November payments?

If you receive both Social Security benefits and SSI benefits, you might end up getting three different benefits payments in November:

• On November 1 , you’ll get your typical November SSI payment.
• On November 3 , you’ll get your typical November Social Security payment.
• On November 29 , you’ll receive your typical December SSI payment a few days early.

When are Social Security benefits usually distributed?

Unless you’re receiving both Social Security and SSI benefits or you started getting Social Security before May 1997, the date of your benefits payment depends on your birth date:

• If you were born between the 1st and 10th of your birth month, you get Social Security benefits on the second Wednesday of the month.
• If you were born between the 11th and 20th of your birth month, you get Social Security benefits on the third Wednesday of the month.
• If you were born between the 21st and 31st of your birth month, you get Social Security benefits on the fourth Wednesday of the month.

If you’re receiving Survivor benefits, your payment date depends on the original recipient’s birth date, not yours.

The Social Security Administration just released its COLA increase — will this impact 2024’s benefits?

Each year, the Social Security Administration reevaluates its benefits payment amounts in light of inflation and any changes in the average cost of living over the previous year.

This cost of living adjustment (COLA) is determined each October and takes effect with the first payment of the new year.

For the 2025 tax year, the COLA increase for Social Security and SSI beneficiaries is 2.5%. This increase won’t impact your benefits check until January 1, so if you’re getting an extra payment this November, you should expect it to be the same amount as the other monthly checks you received this year.

Bottom line

Understanding when your Social Security benefits hit your bank account is crucial to developing a budget that sets you up for a stress-free retirement .

If you’re receiving your December payment in November this year, make sure to take the adjustment into account while evaluating your December budget — otherwise, you could end up stressing about how to make ends meet when the end of the year runs around.

Money tips that can work for everyone

No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.

Focus on paying off your debt. Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.

Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.

Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).