In the United States, millions of people who get Supplemental Security Income (SSI) will experience positive news in December 2024. Recipients will see an extra payment due to the cost-of-living adjustment (COLA), which will allow them to have an additional check. This adjustment is a measure implemented by the Social Security Administration (SSA) to help people cope with the rising cost of living, especially in times of inflation.
The COLA is an annual revision to the amount of payments made to reflect the increase in the Consumer Price Index (CPI). In 2024, this adjustment will be 3.2%, a significant increase that will improve the purchasing power of those who depend on these benefits. The good news is that SSI recipients will get their first payment under the COLA before the end of the year, specifically on December 31, 2024. This payment is in advance of the January 2025 SSI, and may come as a relief to many recipients preparing for the new year’s expenses.
The extra SSI to be delivered in December is due to SSA’s policy of advancing payment when January 1 is a Federal holiday. Thus, to avoid delays, beneficiaries will get their January payment in December, which means they will have additional income earlier than expected. This check is especially important for those who face higher expenses in December, such as those related to the holidays or year-end closing.
How to get the extra SSI with the Cost of Living Adjustment?
The December 31, 2024 payment is not an additional or extraordinary check, but an advance on the January 2025 monthly SSI payment . To get this benefit, beneficiaries must meet certain basic requirements including being eligible for SSI and having their banking information updated in the SSA system.
This advance is part of SSA’s strategy to ensure that beneficiaries do not experience delays during the beginning of the year, when SSI payments are often delayed due to the holidays. The 2024 Cost of Living Adjustment (COLA), which is 3.2%, will be included in the December payment, meaning beneficiaries will get a significant increase in their checks.
The COLA is crucial to help beneficiaries cope with inflation, which has hit people on fixed incomes especially hard. The cost-of-living adjustment is calculated based on rising prices for goods and services, which ensures that beneficiaries’ purchasing power remains relatively stable over time. For SSI recipients, this adjustment can be vital to cover the costs of daily living, such as food, rent, and utilities.
Maximum SSI checks in 2025
In 2025, SSI recipients will see an increase in the amount of their checks due to the COLA. The 3.2% adjustment will be reflected in the monthly payments they will get starting in January 2025. This increase is significant, as it will help offset the effects of inflation and higher living costs.
The maximum SSI payment in 2025 will be $1,450 for couples, while individuals will be able to get up to $967. These amounts vary depending on each recipient’s situation, such as whether they live independently or in a household with others. Payments may also be affected by additional income received by beneficiaries, such as earned income or pensions. However, adjustments made by SSA for the COLA ensure that these payments remain aligned with increases in the costs of goods and services.
It is important that beneficiaries keep their information up to date with SSA to avoid any delays in the delivery of their payments. In addition, they should be aware of changes in regulations that could affect the amount of their check, such as the COLA, which varies each year based on inflation. To maximize SSI benefits, recipients should also be aware of their entitlements and make sure they are getting the correct amount.
In short, SSI recipients who get their payment in December 2024 will see an increase thanks to the Cost of Living Adjustment (COLA), which will provide them with an additional check this month. This payment will be an advance on the January 2025 SSI, and will be made on December 31 to avoid delays. The maximum SSI checks in 2025 will also reflect the inflation adjustment, which will ensure that recipients continue to get the support they need to meet their basic needs.
