The Social Security Administration (SSA) has announced that retirees and people with disabilities will see an increase in their Social Security checks in 2025. The new payment schedule and planned increase are set to take effect next year. In December 2024, the SSA will send out a total of five payments.
This includes an extra Supplemental Security Income (SSI) check. The extra check will be sent out earlier than usual because of the New Year holiday on January 1. The SSA only operates on business days.
This means the first SSI payday of the new year will be on December 31, 2024. These recipients will be the first to receive the 2.5% Cost of Living Adjustment (COLA) increase. Social Security beneficiaries can expect the boost on one of four different paydays in January 2024.
Retirees can collect their new monthly checks starting January 3.
Social Security’s pay schedule update
The checks could reach up to $5,180, with an average amount around $1,907.
However, this only applies to those who began receiving payments before May 1997. Those who started receiving Social Security benefits after May 1997 will not receive their payments on January 3. They will have other chances to get their payments on January 10.
Here is the payment schedule for January:
January 3: For retirees and disability benefits recipients who began receiving payments before May 1997. January 8: For recipients whose birthdays fall between the 1st and 10th of any month. January 15: For recipients with birthdays between the 11th and 20th.
These beneficiaries will also get a 2.5% increase in their check. January 22: For recipients whose birthdays fall between the 21st and 31st. The upcoming changes and scheduled payments aim to help recipients maintain their purchasing power as costs rise.
Beneficiaries should mark their calendars to keep track of their payment days.
