The Cost of Living Adjustment (COLA) for 2025 will begin affecting Social Security payments starting in January 2025. However, throughout 2024, U.S. households will continue to receive the same benefit amounts that have been distributed so far.
So, to receive a payment with the 2025 Social Security COLA increase, we will need to wait a bit longer. For now, we will only have access to the payments we’ve been getting. However, it won’t be long before we know the exact percentage increase for retirement benefits.
Social Security payments before the end of the year
In the months of October, November, and December, the Social Security Administration will send out numerous checks to citizens with approved benefits. It’s essential to stay informed about the specific payment dates for each group of recipients to take full advantage of these payments.
Some key considerations include:
- All benefits, regardless of type or amount, are distributed on the same dates to different groups.
- Whether your benefit is for disability or retirement, if your check is approved, you will receive the payment on the designated days.
Payment schedule for the upcoming months
october
- October 1: Payments for all Supplemental Security Income (SSI) recipients.
- October 3: Payments for retirees who began receiving benefits before May 1997.
- October 9: Payments for retirees with benefits starting after May 1997, born between the 1st and 10th.
- October 16: Payments for retirees with benefits starting after May 1997, born between the 11th and 20th.
- October 23: Payments for retirees with benefits starting after May 1997, born between the 21st and 31st.
November
- November 1: Payments for all SSI recipients.
- November 1: Payments for retirees who began receiving benefits before May 1997.
- November 13: Payments for retirees born between the 1st and 10th of any month.
- November 20: Payments for retirees born between the 11th and 20th.
- November 27: Payments for retirees born between the 21st and 31st.
- November 29: Early December SSI payment due to the weekend on December 1.
December
- December 1: Payments for retirees who began receiving benefits before May 1997.
- December 11: Payments for retirees born between the 1st and 10th.
- December 18: Payments for retirees born between the 11th and 20th.
- December 24: Payments for retirees born between the 21st and 31st.
- December 31: Additional SSI payment due to December 1 falling on a weekend.
For faster access to your Social Security payments, it’s highly recommended to activate Direct Deposit. This will ensure that funds are available immediately without any delays. If you don’t have this option enabled, the money will appear a few days after the administration sends it out.
By keeping track of this schedule, you can better manage your monthly expenses and make the most of your Social Security benefits.