The Social Security Administration announced an increase in pension payments to beneficiaries across the United States. Beneficiaries can get up to $360 dollars Increase. This increase is called a cost-of-living adjustment (COLA).
The COLA is 8.7% in 2023, raising the maximum Social Security check from $4,194 to $4,555.
As a result, the next pension payment will be increased by up to $360 compared to the payment made in November last year.
Additionally, pension payments are expected in 2024 There is an additional increase of 3.2%The maximum Social Security retirement payment could be increased to approximately $4,700.
This increase represents a big improvement from the $4,194 recorded in 2022.
It’s important to note that even though all Social Security payments increased by 8.7%, the extra $360 will be received by retirees receiving the maximum payment.
Payment Dates for November:
-November 1: On this day the November Supplemental Social Security Payment is issued. This check is for a maximum of $914 dollars.
–November 8: Charges for those who retired after 1997 and born between 1st and 10th of any month of the year.
– November 15: Payments for those born between 11 and 20 in any month of the year.
November 22: Last payment of the month. Fees for those born between 21 and 31.
· A global survey reveals that 65% of people are concerned about the cost and quality of life
· Stimulus Test: Thousands of people in the US will win $1,312 directly in 11 days
· Social Security will pay an average of $1,533 in 2024
· Social Security will send more than $4,000 in direct payments on Wednesday
A direct recipient of $914 dollars on December 1
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