The final round of October’s Social Security payments, worth up to $4,873 for the highest-income earners who retire at age 70, will go out to the third group of retirees on Wednesday. Here is all you need to know about this month’s Social Security payments,

Social Security payments are typically paid out starting on the 2nd Wednesday of the month. The remaining two payments will be paid out on the following two Wednesdays of the month. Which week you receive your payment depends on your birthdate. There is one big exception, which I'll cover below.

Now that the SSA has announced next year’s 2025 COLA, we take a look at the first checks that will be received with the increase reflected.

The October Bonus is 100% of your normal weekly payment. The minimum Bonus amount that will be paid is €20. If an Increase for a Qualified Adult is paid directly to your dependent spouse, civil partner or cohabitant, the October Bonus is also paid directly to them.

It is a workaround to get Supplemental Security Income (SSI) recipients their benefits on days when banks are not closed. The first day of the December this year falls on a Sunday, when banks are usually closed.

SSI payments for November are scheduled to be distributed on the first day of the month. SSI payments are given to people living with debilitating disabilities that affect their income, according to the Social Security Administration.