Cost of Living Adjustments are without a question a very important part of the daily lives of retired Americans in the United States.
Without this, people who get a retirement cheque would not be able to get a good monthly income that keeps up with inflation every year.
Because of this, it is more important than it seems to know everything about this COLA. Also, knowing when we will learn everything we need to know about the yearly rise will help us better manage our money with our Social Security check.
When will we know the Social Security COLA 2025?
The price increase for Social Security in 2025 has not been made public yet, but it will be soon. People who get a monthly Social Security check should know that on October 10th, they will be able to find out how much their final gain will be.
In general, it is thought that Social Security checks will go up by 2.5% by 2025, but it is still too early to say for sure. Still, we will not have to wait much longer to find out in a few months what our bill will go up by.
Social Security payments before COLA 2025
Before the end of 2025, Social Security will give us new retirement checks that do not have the COLA for next year on them, but do have the COLA for this year, 2024. Here is a list of payments that need to be made before the end of the year:
October
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- October 1: Supplemental Social Security payments for all Supplemental Security recipients.
- October 3: Pensioners with benefits prior to May 1997 will be eligible for collection.
- October 9: Retirees with post-May 1997 checks who have a birthday between the 1st and 10th get payment on this day.
- October 16: Retirees with post-May 1997 checks with birthdays between 11 and 20 receive payment on this day.
- October 23: Retirees with post-May 1997 checks with birthdays between the 21st and 31st get payment this day.
November
- November 1: Supplemental Security Income payments for all Supplemental Security Income recipients.
- November 1: Retirees with a benefit prior to May 1997 can receive this payment.
- November 13: Retirees with post-May 1997 checks who have a birthday between the 1st and 10th collect on this day.
- November 20: Retirees with post-May 1997 checks with a birthday between the 11th and 20th get payment on this day.
- November 27: Retirees with post-May 1997 checks with birthdays between the 21st and 31st get payment this day.
- November 29: December Supplemental Social Security payment. This is because December 1 is a weekend.
December
- December 1: Pensioners with benefits prior to May 1997 can collect this payment.
- December 11: Retirees with a post-May 1997 check who have a birthday between the 1st and 10th collect on this day.
- December 18: Retirees with post-May 1997 checks with birthdays between the 11th and 20th collect this day.
- December 24: Retirees with post-May 1997 checks with birthdays between the 21st and 31st get payment on this day.
- December 31: Complementary Social Security payment corresponding to the month of December. This is due to the fact that December 1 is a weekend.
Remember that you will only get your Social Security payment the same day you send the money if you have Direct deposit turned on. We might have to wait a few days before we can use the benefit money if this way of collection is not turned on.
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