Next week will officially see improvements in retirement benefits and new Social Security payments

For Social Security recipients, particularly senior Americans who depend on their monthly benefits to pay bills and enjoy retirement, there are two positive announcements coming up next week. The first piece of good news is that on Wednesday, 9th October, retirees will receive a fresh Social Security cheque, which will vary in amount from $1,900 to $4,873.

On Wednesday, October 10th, recipients will finally receive the formal announcement of the cost of living adjustment (COLA) rise when this payment is completed. As of January 2025, the Social Security Administration will begin issuing new checks with the revised percentage verified, which includes this increase.

A new Social Security check to be deposited for retirees

Over 70 million payments for retirees, survivors, disabled individuals, and SSI beneficiaries must be made by the SSA each month. To help all recipients understand their payment dates based on the program they are eligible for, they have created a monthly payment schedule.

As outlined below, beneficiaries will receive their subsequent Social Security check in accordance with this payment schedule:

• On Wednesday, October 9th, retirees, survivors, and disabled people who claimed benefits after May 1997 and were born between the 1st and the 10th will get their check
• On Wednesday, October 16th, retirees, survivors, and disabled people who claimed benefits after May 1997 and were born between the 11th and the 20th will get their check
• On Wednesday, October 23rd, retirees, survivors, and disabled people who claimed benefits after May 1997 and were born between the 21st and the 31st will get their check

Keep in mind that you should wait at least three postal days before contacting the Social Security Administration contact centre if your payment does not come on the scheduled date.

Your bank’s processing system can be the cause of the delay. Additionally, keep in mind that the 3.4% rise from the cost of living adjustment (COLA), which will be updated shortly, is already included in this Social Security check.

How much money will beneficiaries receive on their next Social Security check?

For those who meet specific SSA requirements—such as full retirement age (FRA), work history, Social Security contributions made to the system, and the type of disability, specifically for those who qualify for the Social Security Disability Insurance (SSDI) program—different payment amounts are available to retirees, survivors, and disabled individuals. All of the current payout amounts for each program are listed below:

Social Security payments	Retirement benefits	Survivors benefits	Disability benefits	SSI benefits
On average	$1,900	$1,505	$1,537	$698
Other payments	Age 62: $2,710 Age 67: $3,822 Nikki Haley Slams Donald Trump: Focus on Policies, Not Kamala Harris’ Media Strategy Age 70: $4,873	Individual: $1,773 2 Children: $3,653	Blind recipients: $2,590 Maximum payment: $3,822	Individuals: $943 Couples: $1,415 Essential person: $472

It is crucial to emphasise that recipients will begin receiving larger checks in January 2025 after the new cost of living adjustment is revealed. The exact proportion has not yet been disclosed, but according to the Senior Citizens League‘s most recent estimates, the new Social Security check amounts will rise by about 2.5 percent, meaning that beneficiaries will receive the following payment amounts:

Retirement benefits	Social Security checks	2.5% COLA increase	Extra income
On average	$1,900	$1,948	$48
Age 62	$2,710	$2,778	$68
Age 67	$3,822	$3,918	$96
Age 70	$4,873	$4,995	$122

 

Survivor benefits	Social Security checks	2.5% COLA increase	Extra income
On average	$1,505	$1,543	$38
Individual	$1,773	$1,817	$44
2 Children	$3,653	$3,744	$91

 

Disability benefits	Social Security checks	2.5% COLA increase	Extra income
On average	$1,537	$1,575	$38
Blind recipients	$2,590	$2,655	$65
Maximum payment	$3,822	$3,918	$96

 

SSI benefits	Social Security checks	2.5% COLA increase	Extra income
On average	$698	$715	$17
Individuals	$943	$967	$24
Couples	$1,415	$1,450	$35
Essential person	$472	$484	$12

Also See:- Social Security benefits will increase by 2.5 percent: How much additional money will the elderly receive?

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