The United States Government will soon give the green light for a new Cost of Living Adjustment (COLA) to Social Security Disability Insurance payments for SSDI recipients.
This payment increase for SSDI has the goal of maintaining the recipient’s purchasing power. Inflation affects the prices of goods and services, so Social Security updates SSDI payment amounts every year.
COLA – Buying power of SSDI recipients
Although SSI recipients will receive their COLA boost for payments on December 31, 2024, Social Security Disability Insurance beneficiaries will not receive it until January. Some of them in early January, but others in late January. Here are some facts about the COLA:
- aids fight high inflation
- it is a way to make sure Social Security Disability Insurance recipients do not lose purchasing power
- if you get Supplemental Security Income, these benefits also increase
- The 2025 COLA increase in payments will be due effective on January 3, 8, 15, 22.
Those who qualify for SSDI payments do not need to apply for the COLA increase. All you have to do is check your bank account on the payday you are eligible for.
Discovering the First SSDI payment from Social Security and its eligibility
The first SSDI payment will take place on January 3. It will not be until that date that disability recipients can enjoy their 2025 COLA boost. The Cost of Living Adjustment will be about 2.5%. However, this is just a projection from the Senior Citizens League and Social Security will unveil it on October 10. So, you could get 25 dollars extra if your payment is worth $1,000 in 2024, or $50 if it is double that amount.
January 2025 payment Schedule for SSDI
The Social Security Administration will send monthly payments to those who started getting Disability Insurance benefits before May 1997 on January 3. If you are also receiving SSI, January 3 will also be your next payment date. If not, here are the possible payment dates:
- payment dates with 2025 COLA increase
- January 8: born from 1-10
- January 15: born from 11-20
- January 22: born from 21-31