SSDI payments can be up to $3,822 in 2024. However, this maximum amount for an individual is really difficult to achieve. Only those who have earned the taxable maximum (contribution and benefit base) for 35 years may have a chance. Social Security updates payment amounts when inflation goes up. COLAs are the way the Agency uses to do so.
The latest COLA Fact Sheet has unveiled that the estimated average monthly Social Security Benefits payable in January 2025 will be $2,826 for a worker with a disability, spouse, and 1 or more children. Of course, only those who have earned the necessary earnings and qualify can get such an amount of money. SSDI payments can be lower or higher than this average.
When will the first $2,826 average SSDI payment be sent?
According to Social Security’s payment schedule, the first Disability Insurance payments with the COLA increase will be on January 3, 2024. This will be your payday if you meet one of these 2 requirements.
January 3 will be your payment if you began receiving SSDI before May 1997. Another possibility is if you are getting both SSI and SSDI. Bear in mind that if you get SSI too is because your SSDI payment is probably lower than average.
After January 3, there will be 3 more paydays, These paydays will also include the 2025 COLA increase. A mild boost of just 2.5%, but it is necessary if you have a low disability benefit and you rely on it.
Who can receive SSDI on January 8, 15 or 22?
These paydays will be for those who:
- do not qualify and do not receive SSI
- did not start getting Social Security Disability Insurance before May 1997
- their birthday falls from:
- the 1st through the 10th
- the 11th through the 20th
- the 21st through the 31st
The current average SSDI payment is of about $1,542, with a 2.5% increase will be of about 38 dollars. It will not be as high as the expected boost for retirees of about 50 dollars.