The Social Security Administration (SSA) has verified when the 2025 COLA rise would be credited to eligible SSDI beneficiaries’ bank accounts. In fact, it will not be in 2024, because the 2.5% COLA increase will take effect in January. As a result, if you receive Disability Insurance, you will not be eligible for a cost-of-living adjustment increase at this time.
The only Americans eligible for the 2025 COLA rise in 2024 will be those receiving Supplemental Security Income. So, if you received SSDI on December 3 and also get SSI, the 2025 COLA rise for SSI will be delivered on December 31, 2024.
Date for the 2025 COLA if you are on SSDI
The first Social Security Disability Insurance payment reflecting the COLA increase will be made on January 3, 2024. To receive money on this paycheck, you must have filed for and received benefits before to May 1997.
If you did not, you can receive SSDI on January 3, 2025, if you also receive Supplemental Security Income. Other Disability Insurance paydays related to the 2025 COLA rise will be due on:
- January 8: Disability Insurance beneficiaries born from 1-10
- January 15: Disability Insurance beneficiaries born from 11-20
- January 22: Disability Insurance beneficiaries born from 21-31
How much will the 2025 COLA increase SSDI benefits?
All SSDI benefits will rise by 2.5 percent. That is 2.5 bucks for every $100 you receive from Social Security. Therefore, if you receive a $1,000 payment, your new check after COLA will be $1,025.
SSDI beneficiaries who qualify for an average payment of $1,542 in 2024 will receive around $1,580 following the COLA increase. This amounts to around $38 more per month, which is about 11 dollars less than the average monthly rise for retirees.
The highest SSDI benefit payout with COLA will be $4,018, up from $3,822. As you can see, this increase has nothing to do with the average COLA for all claimants. This is because these payments are based on the taxable maximum, which climbs faster than the yearly COLA.