Social Security payment on Black Friday: who will receive it

By The Opinion

Nov 28, 2024, 1:57 PM EST

This Friday, November 29, 2024, one of the most anticipated commercial events for millions of consumers arrives: Black Friday. All day long, Americans hunt for the best deals available and part with hundreds or thousands of dollars. Fortunately, some beneficiaries will receive a little money from Social Security that they could take advantage of this day.

In a rarely seen coincidence, many Social Security beneficiaries will receive an additional payment in the middle of Black Friday. For this important day, The Social Security Administration (SSA) is scheduled to deposit Supplemental Security Income (SSI). This payment corresponds to December 1, only it is brought forward because this date falls on a Sunday.

Officially, all November deposits have already been made with the last payment being on Wednesday, November 27. However, on the last Friday of this month, while “Black Friday” is taking place, for some It will be “green” because of the bills they will receive from Social Security. One of the essential rules of the SSA is that when a payment date falls on a holiday or weekend, it is brought forward to the previous business day.

Since December 1st will be a Sunday, The SSA has decided to send the December payment on Friday, November 29, right on Black Friday. This will be the second November payment for SSI recipients, as the first was issued on November 1.

Extra Black Friday Payment Will Benefit SSI Recipients Only. These people are typically seniors, people with disabilities, or low-income adults who have no other means of financial support. Although this extra payment will not be a norm, it is an advantage for those who depend on these funds to cover basic needs or, on this occasion, to want to take advantage of the “Black Friday” offers.

The maximum monthly SSI payment for 2024 is $943 for an individual and $1,415 for a couple. The amount may be less depending on your income, the income of certain family members, your living situation, and other factors.

It should be noted that the SSA has already announced the cost of living adjustment (COLA) for 2025. Starting January 1 of next year, All Social Security beneficiaries will see a 2.5% increase in their payments. This means that the maximum payment for eligible individuals will be $967, while couples will receive up to $1,450.

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