Key Dates for COLA Payments in 2025
The COLA increase will affect people receiving Supplemental Security Income (SSI) and those on Social Security or Social Security Disability Insurance (SSDI). The dates when you will see the increase depend on your type of benefit and when you were born.- December 31, 2024: If you receive SSI, you will get the COLA increase on this date. However, the increase will not be as large as for retirees or SSDI recipients. Your maximum payment will rise from $943 to $967, but you won’t receive the extra $50 that retirees get.
- January 2025: If you receive Social Security or SSDI, the increase will be applied to your payments based on your birth date. Here are the important dates:
- January 3: For those who started receiving Social Security before May 1997 or for those who get both SSI and Social Security.
- January 8: If you were born between January 1 and 10.
- January 15: If you were born between January 11 and 20.
- January 22: For people born between January 21 and 31.
How Much Will You Get from the 2025 COLA Increase?
The exact increase varies based on your type of benefits. For example, retirees will receive an average of $49 extra each year, while people on SSI will get an increase of about $24 a month. The increase can help offset rising living costs, though it may not be as large for those on SSI due to lower base amounts. For example, SSI recipients will see a rise from $943 to $967, but they will not receive the same extra $50 as retirees. Similarly, married couples who get SSI together will now receive up to $1,450, compared to $1,415 before.Eligibility for the 2025 COLA Increase
To qualify for the COLA increase, you must be receiving Social Security, SSI, or SSDI. If you started receiving Social Security before May 1997 or if you are getting both SSI and Social Security, you will see the increase starting January 3, 2025. If you were born later in the month, your COLA will be applied to the payment you get in January, depending on your birthday. The 2025 COLA increase is good news for Social Security and SSI recipients, offering a helpful boost to keep up with rising costs. However, the exact amount and timing of the increase vary depending on when you started receiving benefits and your type of payment. Be sure to check your specific payment date to know when to expect the increase.When will I receive the COLA increase for Social Security in 2025?
If you receive SSI, your increase will come on December 31, 2024. Social Security and SSDI recipients will see the increase based on their birth date, starting as early as January 3, 2025
How much will my Social Security payment increase in 2025?
On average, retirees will receive an extra $49 per year, and SSI recipients will get about $24 more per month
Will the COLA increase affect everyone equally?
No, the COLA increase amount varies. SSI recipients generally receive a smaller increase than retirees and SSDI recipients because their base payments are lower.
What if I receive both SSI and Social Security?
If you receive both benefits, you will get the COLA increase starting January 3, 2025.
How do I know when I will receive my COLA increase?
The COLA increase is applied based on your birth date. Social Security will provide your payment on a date between January 3 and January 22, 2025.
