As 2024 comes to a close, SSI and Social Security beneficiaries may receive up to five payments between November and December.
This schedule not only accommodates regular monthly benefits but also introduces the 2025 Cost-of-Living Adjustment (COLA) in the final SSI payment of the year.
Here’s what beneficiaries need to know about these payments, key dates, and how the COLA will impact benefits in 2025.
November 2024: Social Security and SSI Payment Schedule
In November, the Social Security Administration (SSA) will issue up to five payments for various beneficiary groups, ensuring funds are available before the holidays. Here are the payment dates:
- November 1: Regular SSI payment for November, designated for Supplemental Security Income recipients.
- November 1: Payment for Group 2 retirees (birthdays between the 1st and 10th of the month who began receiving benefits after May 1997).
- November 20: Payment for Group 3 retirees (birthdays between the 11th and 20th).
- November 27: Payment for Group 4 retirees (birthdays between the 21st and 31st).
- November 29: Advance SSI payment for December, as December 1 falls on a weekend. This advance ensures funds are available without delay.
These payments cover beneficiaries across different categories, allowing recipients to manage their expenses effectively as the year ends.
December 2024: Social Security and SSI Payment Schedule
The December schedule for Social Security remains standard, with an additional SSI payment incorporating the 2025 COLA increase arriving on December 31. Here are the key dates for December:
- December 11: Payment for Group 2 retirees.
- December 18: Payment for Group 3 retirees (birthdays from the 11th to the 20th).
- December 25: Payment for Group 4 retirees (birthdays between the 21st and 31st).
- December 31: Final SSI payment for 2024, including the 2025 COLA increase. This early payment allows SSI recipients to access enhanced funds before the New Year.
The December 31 SSI payment is particularly beneficial, as it incorporates the 2025 COLA adjustment, ensuring SSI beneficiaries receive the adjusted amount even before the official start of the year.
How the 2025 COLA Adjustment Works
The Cost-of-Living Adjustment (COLA) is designed to align Social Security and SSI benefits with inflation, ensuring beneficiaries can keep up with rising costs.
For 2025, the COLA is 2.5%, providing a modest increase in monthly benefits. The COLA is calculated based on the Consumer Price Index (CPI), which reflects general living cost changes, including essentials such as food, housing, and healthcare.
- First Payment with COLA: The SSI check on December 31 will be the first payment to reflect the COLA increase.
- January 2025 Payments: Social Security beneficiaries will see their first adjusted payments in January 2025, reflecting the COLA.
This 2.5% increase will apply to all SSI and Social Security benefits, offering a modest boost to help offset inflation and support beneficiaries’ financial stability.
Importance of These End-of-Year Payments
Receiving multiple payments at the end of the year, especially with the 2025 COLA adjustment, provides extra support for Social Security and SSI recipients as they navigate holiday and year-end expenses. Here’s why these payments matter:
- Financial Relief for Holidays: The end-of-year payments offer timely assistance for beneficiaries who may face additional expenses during the holiday season.
- Early COLA Access: The December 31 SSI payment ensures beneficiaries get the 2025 COLA increase without waiting until January, providing an extra financial boost right as the year ends.
- Advance Payments for SSI: By scheduling the December SSI payment in advance (on December 31), Social Security helps beneficiaries avoid delays due to federal holidays or weekends, offering peace of mind with uninterrupted access to funds.
For many beneficiaries, this payment structure helps alleviate financial stress, allowing them to manage holiday and start-of-year costs with greater stability.
Summary of Key Payment Dates
| Month | Date | Payment Group |
|---|---|---|
| November 1 | November 1 | SSI and Group 2 retirees |
| November 20 | November 20 | Group 3 retirees |
| November 27 | November 27 | Group 4 retirees |
| November 29 | November 29 | December SSI advance |
| December 11 | December 11 | Group 2 retirees |
| December 18 | December 18 | Group 3 retirees |
| December 25 | December 25 | Group 4 retirees |
| December 31 | December 31 | Final SSI with 2025 COLA increase |
These timely payments from the SSA support beneficiaries in meeting their financial needs, offering stability through the end of the year and into 2025.
