In the U.S., December is a big month for people who depend on Social Security, especially Disability benefits, because they usually do not have any other way to make money.
If you were hoping that the 2025 cost-of-living adjustment (COLA) would be included in the next payment, you should know that it will not be. The payment cycle for 2024 will end with the check on December 24, so it will not yet reflect the 2.5% increase that will happen in January.
The simple reason is that the COLA only affects payments made next year, and the December check is still part of the current payment schedule, even if it falls on a holiday. That means people who get disability benefits will get their regular deposit, and the amount will not change.
Everything You Need to Know About the December 24 Payment
The last Social Security check of 2024 will be sent out on Monday, December 24. People in group 4 receive this payment. These are people who started getting benefits after May 1997 and whose birthday is between the 21st and 31st of the month. To make sure that everyone gets their money on time, the payment will be moved up because Christmas is coming up.
The 2025 COLA adjustment will not be in this check yet, but the amount will be based on all calculations done in 2024 for each beneficiary based on their work history and earnings. It is important to remember that these early payment dates are normal for Social Security when holidays get in the way of the normal schedule.
When will the 2025 COLA begin to be reflected?
The rise in the cost of living will start with the payments in January 2025. Depending on the group you are in, this means that the first check with the 2.5% change will be deposited that month. Disability and other Social Security recipients will get payments in December that are equal to what they will be in 2024 until then.
The Dec. 24 check will not include the 2025 COLA because of this, but it will make sure that beneficiaries can get their money before the holidays. Millions of people in the United States will get a raise when the new adjustment goes into effect in January. This will bring in a new year with more benefits.
But that will only happen if payments are made for retirement. Now, if we look at SSI payments, we can get this increase in 2024 because the first payment for January 2025 will be sent on December 31, 2024. This is because of a mistake in the calendar.
Also See:- The decision that could increase your Social Security benefits in 2025