There are some changes coming to Social Security payments in December. Social Security issues a calendar every year with dates of when you will receive your payments.
However, it can still be a surprise when there are changes to the regular schedule of payments you have grown accustomed to over the year. The cost-of-living-adjustment (COLA) statistic will also be used for some beneficiaries’ payments this month.
The end of the year sees disruption to regular payment schedules
The normal schedule for getting Social Security payments changes a little every month, not just in December. The first of every month is when people who get Supplemental Security Income (SSI) get their money.
This year, though, December 1 fell on a weekend, so SSI recipients got two payments in November: one for their November payment and one for their December payment.
But because January 1, 2025, is a federal holiday, people who get SSI will still get a payment in December. But keep in mind that this “bonus” payment is only for January. Paid people will get their money on December 31st.
The COLA increase you can expect in all of your 2025 payments will show up in these payments. If you get both Social Security and SSI, though, you will still get your first payment in 2025 on January 3rd.
How to check if you will be receiving a bonus payment this month
If you are still unsure if you will be receiving a bonus payment or not this month, check the following schedule to confirm which payments you can expect:
- Dec. 31: SSI recipients will receive their new cost-of-living adjustment (COLA), which will reflect their January 2025 benefit.
- Jan. 3: Individuals who claimed Social Security before May 1997 or who receive both Social Security and SSI will see their new 2025 COLA in their payments on this date.
- Jan. 8: Those born between the 1st and 10th of the month will receive their updated COLA with this payment.
- Jan. 15: Recipients born between the 11th and 20th of the month will get their new COLA on this date.
- Jan. 22: People born between the 21st and 31st will see their cost-of-living increase with this payment.
How is Social Security changing for 2025
The new COLA number for 2025 means that Social Security recipients will get more money next year. The payments are going to go up by 2.5% next year. When income or benefits go up to keep up with rising costs of living, especially inflation, this is called a COLA.
For 2025, the number comes from the rise in the Consumer Price Index for Wage Earners and Urban Employees (CPI-W) from the third quarters of 2023 to 2024. The COLA number is also used for Disability payments and Supplemental SSI payments.
People are also wondering what the future of Social Security will be like now that Trump is getting ready to start his second term as president at the beginning of next year. At this rate, Social Security will run out of money by the beginning of 2030.
President-elect Donald Trump has told beneficiaries that their payments will not change while he is in office. However, policymakers have warned that in order to make the fund last longer, either payments to beneficiaries must be cut or Social Security tax rates must be raised.
Beneficiaries should keep in mind, though, that just because the fund runs out does not mean that Social Security will end. Even though the trust fund might run out of money, Social Security will still be able to pay benefits because workers are still paying payroll taxes.
But without the trust fund’s reserve, Social Security would only be able to pay a portion of the benefits that were promised. If Congress does not do something to fix the shortfall, those payments could be cut. No matter what, President Trump is likely to make changes to how payments are made.
