As people who get Social Security get ready for changes to their payouts, it is important to remember important dates for the cost-of-living adjustment (COLA) for 2025.
Even though the date of the official COLA raise gets the most attention, beneficiaries should also mark other important dates on their calendars.
1. October 10, 2024: Announcement of the 2025 COLA
The COLA for 2025 will be made public by the Social Security Administration (SSA) on October 10. The last piece of data used for this change will be the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for September 2024.
This data will be combined with data from July and August. An rise of about 2.5% is expected, but this number could change depending on how the economy is doing.
It is important to remember that the COLA is added to the main insurance amount which is the amount of money that people who are fully retired can get from Social Security.
In other words, recipients can get a rough idea of their new monthly payments by adding the COLA rate to their current checks. However, the exact amount will depend on each person’s situation.
2. Early December 2024: Personalized COLA Notices
In early December, all beneficiaries can expect to receive personalized notices detailing their benefit amounts for 2025. Those who have set up a My Social Security account will have access to their COLA notice through the Message Center by mid-November.
Additionally, beneficiaries can opt for email or text alerts to notify them when their notices are available. The SSA will continue mailing out COLA letters throughout December.
Beneficiaries are encouraged to wait until January 2025 to report any missing notices, as it can take time to reach millions of recipients.
3. January 8, 2025: First Checks Reflecting the COLA Increase
With the 2025 COLA added, beneficiaries will get their first Social Security checks in January 2025.
The SSA adds the COLA to the December 2024 payment, but checks are not sent out until the following month. The exact times of payments will depend on the birthday of the beneficiary:
- Born on the 1st to 10th: Payments will be issued on January 8, 2025.
- Born on the 11th to 20th: Payments will be issued on January 15, 2025.
- Born on the 21st to 31st: Payments will be issued on January 22, 2025.
Supplemental Security Income (SSI) recipients will get their first checks with the COLA earlier, on December 31, 2024, because of the New Year’s holiday on January 1.
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