Social Security
The 5 key dates for Social Security COLA in 2025
As we count down the last few days of 2024, Social Security recipients should keep an eye on what’s in store for their benefits in the coming year.
A new year is about to start, and Social Security beneficiaries will soon receive payments with an increase as dictated by the cost of living adjustment.
The COLA is an annual increase in Social Security and Supplemental Security Income benefits meant to help recipients keep pace with inflation and make sure their purchasing power is not eroded by rising costs of goods and services. The adjustment is based on changes in the Consumer Price Index.
The 2.5% COLA increase will be implemented in Jan. 2025, and this will affect more than 72 million Social Security beneficiaries. The program’s recipients should keep in mind the following dates that are related to the hike in payments as the new year begins.
The 5 key dates for Social Security COLA in 2025
December 2024
According to the Social Security Administration, the agency will be notifying beneficiaries of their COLA increase starting this month. The adjustment will be 2.5% for everyone, but the new amount you will be getting will be computed based on the check you currently receive.
The notices will be available online for most beneficiaries on their my Social Security account, but they will also be sent through the mail.
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Tuesday, Dec. 31, 2024
Those who receive Supplemental Security Income will be getting their first payment for 2025 one day early. You will receive your January 2025 benefit on Tuesday, Dec. 31 because Jan. 1 is a federal holiday and so the payment will be advanced to the business day prior.
The end-of-the-year check to be sent to almost 7.5 million SSI recipients will already include the 2.5% COLA increase.
Wednesday, Jan. 8, 2025
The Social Security Administration will be sending out the first payments for 2025 with the additional 2.5% COLA to retirees on this day. The agency will send out checks to to beneficiaries whose birth dates fall between the 1st and 10th day. The amount will include the 2.5% COLA.
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Wednesday, Jan. 15, 2025
On this day, the third Wednesday of the month, the adjusted checks will be sent to beneficiaries whose dates of birth fall between the 11th and 20th of the month.
Wednesday, Jan. 22, 2025
Retirees whose dates of birth fall between the 21st and the 31st will receive their first increased checks of the year on the fourth Wednesday of January.
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