In order to get an annual Social Security increase it is necessary to wait for the COLA. The United States Government will announce the COLA in mid-October, so we have to wait a bit until we know the official figure. But one type of SSA check recipient may get a slightly different increase in some of the payments.
If we have a Supplemental Security Income (SSI) check, we might get a little extra money in the next few months. This income will only be for citizens who claim this benefit along with their spouse. Americans who have this Social Security payment alone will not see an increase, at least for the time being.
Who gets the Social Security increase in September?
It is only possible to get this increase in the case of applying for SSI As a spouse. If we are in this situation, the payment could reach $1,415, so we should take this increase into account because it can be very beneficial for our situation.
Also, remember that in order to get the Supplemental Security Income payment we have to:
- Have a disability or be over 65 years old.
- Have low monthly income and low resources.
Only by fulfilling both requirements will we be able to get this monthly payment, which is compatible with other Social Security checks. But we must keep in mind that it is not mandatory to have a retirement check to collect this extra check.
What will the Social Security COLA be in 2025?
It is still too early to talk about an exact figure for the 2025 COLA, but The Senior Citizens League has begun to comment that we could be under 3%. It is possible that the COLA will fall short of that figure, but it will all depend on inflation in the third quarter of 2024, as usual.
Before the end of October we may know the exact figure for the COLA increase, but we still have to wait a bit to find out. So we will have to be patient to find out what the Social Security check increase will be starting in January of next year.
As for the SSI increase in these next few days, the truth is that it is for a very specific scope, so not all Americans can access this increase. Also, it is an automated process, so the Social Security beneficiary does not have to do anything to get it.