2025 COLA Update: Key Payment Schedule for Social Security and SSI Increases
The Social Security Administration (SSA) has officially confirmed the Cost-of-Living Adjustment (COLA) increase for 2025. However, millions of retirees will have to wait to receive this increase, with additional funds not being disbursed until December 31 for Supplemental Security Income (SSI) recipients and later for retirees and Social Security Disability Insurance (SSDI) beneficiaries.
Why SSI Recipients Get Their COLA Increase First
You might wonder why SSI recipients will collect their 2025 COLA increase from the federal government on December 31, 2024, instead of January 1, 2025. The SSA had to reschedule the January 1, 2024, SSI payment to December 31, 2024, because checks and direct deposits are never issued on federal holidays. This change ensures that SSI payments with the COLA are issued 24 hours in advance, preventing any delays that could financially strain low-income recipients.
Payment Schedule for Retirees and SSDI Beneficiaries
Retirees and SSDI beneficiaries will have to wait until January 3, 8, 15, or 22, 2025, to see their COLA increase reflected in their payments. However, it’s important to note that to receive any of these payments, all beneficiaries must have filed and received approval from the SSA. Those who have never applied for these benefits will not qualify.
The payment schedule for retirees and SSDI recipients is as follows:
- January 3, 2025:
- Recipients who began collecting retirement or SSDI payments before May 1997.
- Recipients who are also collecting SSI.
- January 8, 2025:
- Beneficiaries born from the 1st to the 10th of the month.
- January 15, 2025:
- Beneficiaries born from the 11th to the 20th of the month.
- January 22, 2025:
- Beneficiaries born from the 21st to the 31st of the month.
All these payments will include the COLA increase for 2025, allowing benefits to continue growing. If you receive a small check, consider applying for additional financial assistance through SSI and SNAP benefits to supplement your income.
