The Social Security Administration (SSA) has confirmed the final retirement benefit payments for 2024 before the Cost of Living Adjustment (COLA) increase takes effect in 2025.
Retirees can expect payments on three specific dates before the 2025 COLA is applied, ensuring they receive their benefits as scheduled.
Social Security Payments in October Before the 2025 COLA Increase
For retirees, the first of these three payments will be sent on October 3, 2024, but only if you meet one of the following conditions:
- Retirement Benefits Before May 1997: You began collecting your retirement benefits before this date.
- Supplemental Security Income (SSI) Recipients: You are receiving both SSI and Social Security benefits.
- Special Payment Schedule: You don’t qualify for the payment on the 2nd, 3rd, or 4th Wednesday of the month.
Other retirees will receive their October payments based on their birthdays:
- October 9: If your birthday is from the 1st to the 10th.
- October 16: If your birthday is from the 11th to the 20th.
- October 23: If your birthday is from the 21st to the 31st.
November and December Payments Before the 2025 COLA
The November payments bring an early surprise for those scheduled to receive benefits on October 3.
Instead of the regular date, their payment will arrive on November 1, as November 3 falls on a weekend. For December, the payment will be sent on December 3, with no changes.
For retirees born between:
- 1st–10th: November 13 and December 11.
- 11th–20th: November 20 and December 18.
- 21st–31st: November 27 and December 24.
The final payment before the 2025 COLA increase will be December 24, arriving a day early since December 25 is a Federal holiday.
What to Expect from the 2025 COLA Increase
Projections from the Senior Citizens League estimate a 2.5% COLA increase for 2025. This adjustment will boost the retirement benefits to help retirees manage inflation and the rising cost of living, starting with the first payment of January 2025.
FAQs
When will the last Social Security payment be sent before the 2025 COLA?
The last payment before the 2025 COLA increase will be sent on December 24, 2024.
Why is the November 3 payment arriving early?
Since November 3 falls on a weekend, the payment will be sent on November 1 to avoid delays.
Who qualifies for the October 3 Social Security payment?
Retirees who started benefits before May 1997 or are receiving both SSI and Social Security.
What is the projected 2025 COLA increase for Social Security?
The 2025 COLA increase is estimated to be 2.5%, according to the Senior Citizens League.
Will Social Security payments be delayed in December?
No, but the December 25 payment will be sent on December 24 due to the Federal holiday.
