A lot of retired workers are waiting for their higher Social Security payments because of the cost of living adjustment (COLA). The end of the year is coming up soon.
The official payment schedule says that the first people to get their benefits in January will be retired workers, survivors, and disabled people who claimed their first checks before May 1997.
If you are in this group of recipients, remember that on January 3rd, you will get your first higher monthly payment, which will include the 2.5% increase from the COLA.
Retirees will get their first increased Social Security payment on January 3rd
On January 3, retirees will get their monthly benefit. After that, on the second, third, and fourth Wednesdays of each month, the Social Security Administration will send three more payments to people who claimed benefits from the retirement, survivor, and disability insurance (RSDI) program after May 1997.
The SSA will use a method called “staggered payment” based on each recipient’s birth date to send these last payments, which are explained here:
- On the second Wednesday (January 8th), for all recipients whose birth dates fall between the first and the tenth.
- On the third Wednesday (January 15th), for all recipients whose birth dates fall between the eleventh and the twentieth.
- On the fourth Wednesday (January 22nd), for all recipients whose birth dates fall between the twenty-first and thirty-first.
Remember that you should wait three mailing days before calling the federal agency’s customer service if your Social Security payment does not arrive on the due date.
Also, keep in mind that you can go to your “My Social Security Account” to see your monthly payments, download your financial statements, and ask for more help with US Social Security.
How much money will the SSA pay to beneficiaries in 2025?
The new cost of living adjustment (COLA) was finally confirmed by the Bureau of Labor Statistics. This means that the Social Security Administration can now figure out how much each beneficiary will get each month starting in January 2025.
Due to lower inflation, the new increase is less than the current 3.4% cost of living adjustment.
However, recipients will still get an increase to cover their daily costs and keep their purchasing power. Please look at the table below to learn more about the new amounts of Social Security payments for each program:
| Retirement benefits | Social Security checks | 2.5% COLA increase | Extra income |
| On average | $1,900 | $1,948 | $48 |
| Age 62 | $2,710 | $2,778 | $68 |
| Age 67 | $3,822 | $3,918 | $96 |
| Age 70 | $4,873 | $4,995 | $122 |
| Survivor benefits | Social Security checks | 2.5% COLA increase | Extra income |
| On average | $1,505 | $1,543 | $38 |
| Individual | $1,773 | $1,817 | $44 |
| 2 Children | $3,653 | $3,744 | $91 |
| Disability benefits | Social Security checks | 2.5% COLA increase | Extra income |
| On average | $1,537 | $1,575 | $38 |
| Blind recipients | $2,590 | $2,655 | $65 |
| Maximum payment | $3,822 | $3,918 | $96 |
| SSI benefits | Social Security checks | 2.5% COLA increase | Extra income |
| On average | $698 | $715 | $17 |
| Individuals | $943 | $967 | $24 |
| Couples | $1,415 | $1,450 | $35 |
| Essential person | $472 | $484 | $12 |
As you can see, the retirement benefits program will get the biggest boost. For example, beneficiaries who chose to wait to get their benefits until they turned 70 will get an extra $122 each month.
To get this maximum Social Security payment, however, applicants must first meet strict requirements.
For example, they must have paid Social Security taxes based on their highest taxable earnings for the last 35 years and must not have claimed benefits until after they turned 70 (FRA).
Some Americans have trouble getting this maximum benefit, so it is important to talk to a financial advisor or Social Security expert about your specific situation to improve your chances of getting this monthly payment.
