Social Security recipients are eagerly awaiting the 2025 Cost of Living Adjustment (COLA) increase. However, they will have to wait until January to receive it. The last Social Security payment before the 2025 COLA boost is scheduled for December 24.
This payment is for retirees and Disability Insurance (SSDI) recipients who were born after the 20th and started receiving Social Security after April 30, 1997. Those who collect Supplemental Security Income (SSI) are not included in this payment schedule. Previous payments in December are set for the 11th and 18th.
The final retirement or SSDI payment falls on December 25, a federal holiday. SSI recipients will receive their COLA boost on December 31, 2024, ahead of the new year.
Cola adjustments and payment schedules
This means they won’t have to wait until 2025 to see an increase in their payments. The Social Security Administration will send the first retirement and SSDI payments with the 2025 COLA adjustment on January 3, 2025. If you receive both SSI and Social Security, this will be your payday as well.
Those who do not qualify for the January 3 payment will receive their funds on January 8, 15, or 22, depending on their birth date. Despite projections indicating that the upcoming COLA may be lower than in previous years, it is still expected to be beneficial. The increase, potentially higher than the average COLAs, will help retirees and SSDI recipients maintain their purchasing power.
As millions of Americans anticipate their COLA increases in 2025, it’s crucial to be aware of the specific payment schedules and eligibility requirements. While retirees and SSDI beneficiaries will see their boosts starting in January, SSI recipients have the advantage of receiving their increase at the end of December 2024.
