New Increased Social Security Benefits Schedule: Millions of Americans will receive a pay increase in the coming year. In October, the Social Security Administration declared that the 2025 cost-of-living adjustment, or COLA, would be 2.5%. This implies that the monthly benefits of over 72 million social security recipients will rise by that sum. Some people, however, couldn’t wait for an increase.
According to financial experts, the New Year is also a good time to review one’s personal financial situation. Social Security recipients are assisted in keeping pace with inflation through an annual COLA adjustment. Searching for discounts, especially on utilities, or using cash back or reward cards are some ideas for people who want to make savings. For individuals who are curious about when the new COLA adjustment will be applied to paychecks, the change officially takes effect in December 2024.
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- Experts estimate a COLA of 2.5% to 2.6% for 2025 while we wait for September’s data, which is less than the 3.2% increase projected for 2024.
- Survivors, retirees, and people with disability insurance may see smaller benefit increases as a result of the cooling inflation trend.
- In order to maintain Social Security benefit’s purchasing power in a constantly shifting economic environment, the Cost of Living Adjustment (COLA) is crucial.
- Recent trends in consumer prices, particularly growing costs for necessities like groceries, utilities, and healthcare, are reflected in the 2.5% COLA increase for 2025.
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Increase in 2025 Monthly Payments
Starting in January 2025, Social Security recipients will receive higher monthly benefits. The Cost of Living Adjustment (COLA), which was created to keep up with inflation and assist recipients in managing growing living expenses, is to blame for this increase.
A 2.5% COLA increase for 2025 has been confirmed by the Bureau of Labor Statistics. An outline of the anticipated payment adjustments for the various beneficiary categories can be found below:
Retirement Benefits
| Beneficiary Age | 2024 Monthly Benefit | 2.5% COLA Increase (2025) |
| Average Retiree | $1,900 | $1,947 |
| Age 62 | $2,710 | $2,777 |
| Age 67 | $3,822 | $3,917 |
| Age 70 | $4,873 | $4,994 |
Survivor Benefits
| Beneficiary Type | 2024 Monthly Benefit | 2.5% COLA Increase (2025) |
| Average Survivor | $1,505 | $1,543 |
| Individual | $1,773 | $1,818 |
| Two Children | $3,653 | $3,744 |
Disability Benefits
| Beneficiary Type | 2024 Monthly Benefit | 2.5% COLA Increase (2025) |
| Average Disabled | $1,537 | $1,575 |
| Blind Recipients | $2,590 | $2,655 |
| Maximum Payment | $3,822 | $3,917 |
SSI Benefits
| Beneficiary Type | 2024 Monthly Benefit | 2.5% COLA Increase (2025) |
| Average Individual | $698 | $715 |
| Couples | $1,415 | $1,450 |
| Essential Person | $472 | $484 |
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January 2025 Payment Schedule
The January 2025 payment schedule has undergone some major changes. Because January 1st is a federal holiday, SSI beneficiaries who normally receive their benefits on the first of the month will receive their payments earlier on December 31st. Those who received RSDI (after May 1997):
| Birth Date Range | Payment Date | Payment Day |
| Early RSDI Beneficiaries (born before May 1997) | January 3, 2025 | Friday |
| Birth Dates 1st to 10th | January 8, 2025 | Wednesday |
| Birth Dates 11th to 20th | January 15, 2025 | Wednesday |
| Birth Dates 21st to 31st | January 22, 2025 | Wednesday |
FAQs
When will my increased payment be sent to me?
According to the SSA schedule, payments reflecting the COLA increase will be made in January 2025.
Do I have to submit an application for the COLA raise?
No. For qualified beneficiaries, the COLA adjustment is made automatically.
What happens if I don’t get paid?
For assistance, get in touch with the SSA right away by calling their helpline or local office.
If I think my payment was made in error, may I file an appeal?
If there are differences in the amount of your benefits, you can appeal to the SSA.
