By Raúl Rodríguez Cota
07 Nov 2023, 18:43 PM EST
The Social Security Administration announced an increase in retirement payments for beneficiaries across the United States. Recipients could receive up to a $360 increase. This increase is known as a Cost of Living Adjustment (COLA).
In 2023 the COLA was 8.7%, which raised the maximum Social Security check from $4,194 to $4,555 per month.
As a result, the next retirement payment will be increased by up to $360 compared to the payment given last year in November.
Additionally, retirement payments in 2024 are expected to increase by an additional 3.2%, potentially raising the maximum Social Security retirement payment to approximately $4,700.
This increase represents a big advance from the $4,194 recorded in 2022.
It should be noted that the additional $360 will be received by retirees who receive the maximum payment, although all Social Security payments have had an increase of 8.7%.
Payment days for the month of November:
–November 1: This day the November supplemental Social Security payment was given. This check is for a maximum of $914 dollars.
–November 8: payment for people who retired after 1997 and who were born between the 1st and 10th of any month of the year.
–November 15: payments for people who were born between the 11th and the 20th of any month of the year.
–November 22: last payment of the month. Payment for people born between the 21st and the 31st.
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