SSI recipients got the 2024 COLA last December 29, 2023. This COLA boost was not the highest one in the last 3 years, but it was higher than the average cost of living adjustment.
Although can know that SSI beneficiaries got a 3.2% COLA increase last year, it is still uncertain what the next 2025 COLA will be like. So far, there are just projections.
Date for SSI recipients to get the 2025 COLA boost
Supplemental Security Income beneficiaries will receive the 2025 COLA increase on December 31, 2024. As a matter of fact, they will be the first Americans to get the boost.
Bear in mind that SSDI and retirement benefits will not be paid until January 3 if you qualify for the first payday. If not, you may have to wait for 1, 2 or 3 more weeks.
Another important day for SSI and Social Security beneficiaries will be October 10. This will be when the Administration will release the 2025 COLA increase. Mainly because this is when the CPI for the third term is unveiled by the Bureau of Labor Statistics.
2025 COLA projection for SSI
The latest projection for the 2025 Cost of Living Adjustment is about 2.63% claims the Senior Citizens League. Remember that the SCL has been very accurate in the latest COLA forecasts.
If you receive an average SSI payment of $697, your benefit could be about $715. Approximately, that will be about $18 extra per month. In 12 months, Supplemental Security Income recipients may get about $216 extra.
Seniors aged 65 years old or older get an average SSI payment of $574, so they could receive $589 after COLA. As you can see, the lower your payment, the lower the boost seems since they just get $15 extra per month. Maximum amounts would be $967 (single) or $1,452 (married)