The Cost of Living Adjustment is, without a doubt, a really important element in the day-to-day life of United States Social Security retirees. Without this citizens with a retirement check would not be able to have a good monthly benefit that keeps up with annual inflation.
Therefore, knowing everything about this COLA is actually more important than it seems. And if we know the date when we will know all the facts about the annual increase it will help us to better organize our finances with the Social Security check.
When will we know the Social Security COLA 2025?
The announcement of the Social Security COLA 2025 has not yet been made, but it will be made soon. Citizens who have a monthly Social Security payment should know that on October 10th they will be able to find out what their final benefit increase figure will be.
General projections speak that we will have a 2.5% increase in Social Security checks by next 2025, but it is still too early to say an exact figure. Still, we won’t have to wait much longer to determine what the increase in our check will be in just a few months.
Social Security payments before COLA 2025
Before the end of 2025 the Social Security Administration will send us new retirement checks without next year’s COLA included, but with this year’s COLA for 2024. Here are the schedules of upcoming payments before the end of the year:
- October
- October 1: Supplemental Social Security payments for all Supplemental Security recipients.
- October 3: Pensioners with benefits prior to May 1997 will be eligible for collection.
- October 9: Retirees with post-May 1997 checks who have a birthday between the 1st and 10th get payment on this day.
- October 16: Retirees with post-May 1997 checks with birthdays between 11 and 20 receive payment on this day.
- October 23: Retirees with post-May 1997 checks with birthdays between the 21st and 31st get payment this day.
- November
- November 1: Supplemental Security Income payments for all Supplemental Security Income recipients.
- November 1: Retirees with a benefit prior to May 1997 can receive this payment.
- November 13: Retirees with post-May 1997 checks who have a birthday between the 1st and 10th collect on this day.
- November 20: Retirees with post-May 1997 checks with a birthday between the 11th and 20th get payment on this day.
- November 27: Retirees with post-May 1997 checks with birthdays between the 21st and 31st get payment this day.
- November 29: December Supplemental Social Security payment. This is because December 1 is a weekend.
- December
- December 1: Pensioners with benefits prior to May 1997 can collect this payment.
- December 11: Retirees with a post-May 1997 check who have a birthday between the 1st and 10th collect on this day.
- December 18: Retirees with post-May 1997 checks with birthdays between the 11th and 20th collect this day.
- December 24: Retirees with post-May 1997 checks with birthdays between the 21st and 31st get payment on this day.
- December 31: Complementary Social Security payment corresponding to the month of December. This is due to the fact that December 1 is a weekend.
Remember that only if you have Direct deposit activated will you be able to get your Social Security payment on the same day you send the money. If we do not have this collection method activated, we may have to wait a few days to be able to use the benefit money.