Millions of retirees in the United States depend on Social Security to keep their finances stable. Benefits have grown along with inflation thanks to this program, whose payments are changed every year by the Cost of Living Adjustment (COLA).
The next adjusted check is set to be sent to Group 2 beneficiaries on December 11. To get it, they must meet certain requirements.
Since January, the COLA 2024 has raised payments by 3.2%, which is in line with how inflation has affected daily costs.
Even though this increase has already been added to their checks all year, every pay date is a chance to check how their benefits are being given out and make sure they are getting the right amount.
December is also very important because it is when the last regular payments of the year come out, along with a special SSI advance for January 2025.
Requirements for the new Social Security payment with the increase
The December 11 check will be sent only to beneficiaries who belong to group 2. This group includes retirees who:
- Began getting their benefit after May 1997.
- Have a date of birth between the 1st and 10th of any month.
As long as you meet these two conditions, you will get your payment on December 11. The Social Security Administration (SSA) takes care of this process and makes sure that the check gets sent by direct deposit or to the account on file.
It is important to keep in mind that this payment includes the COLA 2024 increase, but it does not include a December increase. The amount being sent is the same as other checks sent this year, but it is more than the payments made in 2023.
This is because the cost-of-living adjustment is used, which keeps beneficiaries’ purchasing power high even when prices go up.
Social Security offers many types of benefits, such as retirement, disability, and benefits for widows and widowers. But payment dates are different for each beneficiary based on their group. This keeps the system organized and works well for millions of people.
Remaining Social Security payments in December 2025
Over 65s should know about a few other important dates before the end of the year besides the December 11 check. These include the last regular Social Security checks and the SSI advance for January 2025. These are the important dates:
- December 18: This payment is for group 3, which includes beneficiaries with dates of birth between the 11th and 20th of each month.
- December 24: This corresponds to group 4, which includes retirees born between the 21st and 31st of the month.
- December 31: On this date, the advance payment of Supplemental Security Income (SSI) for January 2025 is sent. This advance payment occurs because January 1 is a national holiday, and the SSA ensures that beneficiaries do not face delays.
It is very important to plan your finances around these dates, especially if you only get money from Social Security. Advance payments, like SSI, make it easy to pay for important costs at the beginning of the new year.
We have to think about the retirement year for both the December 18 and December 24 payments, just like we do for the December 11, 2024 payment.
The Impact of COLA and Financial Stability
The Cost of Living Adjustment has been very helpful for beneficiaries in keeping their finances stable. The 3.2% increase in 2024 is not as big as the 3.3% increase in 2023, but it still makes a big difference in the daily lives of people who depend on these benefits.
To get the most out of your benefits, you should know when your payments are due and follow the SSA’s rules.
The Social Security Administration ends the annual benefit cycle with the December payments. This makes way for more changes and payments in 2025. These checks show that the government cares about its citizens’ well-being and provide a vital source of income for millions of households in the United States.