The United States Government, through the Social Security Administration (SSA), has announced when American retirees will start receiving the COLA increase and the new maximum payment amounts in 2025.
Only SSI recipients will get the 2025 COLA increase in December 2024. However, the rest of the recipients will have to wait until January 2025 to get their monthly payment with the boost.
$5,108 payment for Social Security – Eligibility
To be eligible for a Social Security payment worth $5,108 in 2025, you must meet 4 essential conditions. Without meeting all these requirements, you will not be eligible.
- a worker must have jobs that pay enough payroll taxes to SSA
- a worker must have earned the taxable maximum for 35 years ($176,100 in 2025, up from $168,600 in 2024)
- a worker must have worked for at least 35 years
- the age to file for SSA retirement benefit payments and get $5,108 is: 70
If you have already filed for Social Security and you did not meet all these requirements, you are not eligible. Those high earners who would like to get the largest payment in 2025 can wait till they have met all the conditions to apply for retirement benefits.
$5,108 payments: paydays for Social Security in 2025
Not only has the Social Security Administration unveiled the 2025 COLA. Its new and updated payment schedule is also available. In fact, the first payment of up to $5,108 will not be sent until January 2025.
The payments that Social Security has scheduled for retirees will be due on January 3, January 8, January 15, and January 22. Only retired workers can receive the largest benefit payments. Bear in mind that SSDI recipients need to apply for disability Insurance payments before even reaching the earliest age to file, 62.
So, this reduces their payment amount a great deal. In 2024, the largest SSDI payment is worth $3,822 while it is up to $4,873 in 2024 for retirees. Some of the SSDI and retirement recipients even need to apply for SSI because they have a low income.