The Social Security Administration has confirmed the COLA increase for the year 2025. However, millions of retirees will have to wait to receive the increase. This additional money will not be sent until December 31 for SSI recipients and later on for the rest (retirees and SSDI beneficiaries).
By now, some of you must be wondering why SSI recipients collect their 2025 COLA increase from the Federal Government on December 31, rather than January 1, 2025.
SSI recipients to collect the 2025 COLA increase first
The Social Security Administration had to reschedule the January 1, 2024, SSI payment and set it for December 31, 2024. This is because SSA never sends out checks or delivers direct deposits on Federal Holidays.
Therefore, the SSI payment with COLA will be issued 24 hours in advance, so as to avoid delays. Do not forget that SSI recipients have a low income, so any delays in payments could cause financial strain.
Retirees will have to wait until January 3, 8, 15, or 22 to enjoy the COLA increase in their payments. However, to receive any of these payments, all beneficiaries had to file and get approval from SSA. So, if you have never applied for any of these benefits, you will not qualify.
Social Security retirement and SSDI payments with the 2025 COLA increase
The payment schedule for retirees and disability recipients on SSDI is the same. Both groups need to meet the eligibility requirements for each payday that the Administration set for 2025.
- Social Security payment on January 3, 2025:
- began collecting retirement or SSDI payments before May 1997
- the recipient is also collecting Supplemental Security Income (SSI)
- Social Security payment on January:
- 8th: born 1-10
- 15th: born 11-20
- 22nd: born 21-31
All these payments will include the 2025 COLA increase. So benefits will continue growing one more year. If you happen to have a very small check, you can also apply for SSI and SNAP benefits to get additional money.
