New Social Security check and Increase for retirees-Cost Of Living Adjustment Amount, Eligibility & Payment Dates The Social Security Official Announced the increase for 2025 for Retirees ,This article will give full guide about Cost Of Living Adjustment Amount, Eligibility & Payment Dates.
New Social Security check to be deposited for retirees
Every month, the SSA has to deliver more than 70 million payments for millions of retirees, survivors, disabled people, and SSI recipients. For this reason, they have designed a monthly payment schedule so all beneficiaries can know their payment dates depending on the program they qualify for. According to this payment schedule, beneficiaries will receive their next Social Security check as here detailed:
- On Wednesday, October 9th, retirees, survivors, and disabled people who claimed benefits after May 1997 and were born between the 1st and the 10th will get their check
- On Wednesday, October 16th, retirees, survivors, and disabled people who claimed benefits after May 1997 and were born between the 11th and the 20th will get their check
- On Wednesday, October 23rd, retirees, survivors, and disabled people who claimed benefits after May 1997 and were born between the 21st and the 31st will get their check
Remember that if your payment doesn’t arrive on the scheduled date, wait at least three mailing days before contacting the Social Security Administration contact center. The delay may come from your banking processing system. Also, bear in mind that this Social Security check already includes the 3.4% increase from the cost of living adjustment (COLA), which will be updated soon.
How much money will beneficiaries receive on their next Social Security check?
There are different payment amounts available for retirees, survivors, and disabled people who meet special SSA requirements, such as full retirement age (FRA), working history, Social Security contributions made to the system, and the type of disability, specifically for those who qualify for the Social Security Disability Insurance (SSDI) program. Below you will find all the current available payment amounts per program:
| Social Security payments | Retirement benefits | Survivors benefits | Disability benefits | SSI benefits |
| On average | $1,900 | $1,505 | $1,537 | $698 |
| Other payments | Age 62: $2,710
Age 67: $3,822 Age 70: $4,873 |
Individual: $1,773
2 Children: $3,653 |
Blind recipients: $2,590
Maximum payment: $3,822 |
Individuals: $943
Couples: $1,415 Essential person: $472 |
It is important to highlight that once the new cost of living adjustment is announced, beneficiaries will receive increased checks starting in January 2025. Even though the final percentage has not been announced, based on the latest projections from the Senior Citizens League, the new Social Security check amounts are expected to increase by around 2.5%, which means that beneficiaries will receive the following payment amounts:
| Retirement benefits | Social Security checks | 2.5% COLA increase | Extra income |
| On average | $1,900 | $1,948 | $48 |
| Age 62 | $2,710 | $2,778 | $68 |
| Age 67 | $3,822 | $3,918 | $96 |
| Age 70 | $4,873 | $4,995 | $122 |
| Survivor benefits | Social Security checks | 2.5% COLA increase | Extra income |
| On average | $1,505 | $1,543 | $38 |
| Individual | $1,773 | $1,817 | $44 |
| 2 Children | $3,653 | $3,744 | $91 |
| Disability benefits | Social Security checks | 2.5% COLA increase | Extra income |
| On average | $1,537 | $1,575 | $38 |
| Blind recipients | $2,590 | $2,655 | $65 |
| Maximum payment | $3,822 | $3,918 | $96 |
| SSI benefits | Social Security checks | 2.5% COLA increase | Extra income |
| On average | $698 | $715 | $17 |
| Individuals | $943 | $967 | $24 |
| Couples | $1,415 | $1,450 | $35 |
| Essential person | $472 | $484 | $12 |
The Impact of COLA on Social Security Benefits
By changing the primary insurance amount (PIA), or the base benefit that retirees are eligible for at full retirement age, the Social Security COLA changes the amount that retirees receive. It’s crucial to remember that the final payment amount may change depending on whether benefits are claimed before or after reaching full retirement age.
Your Social Security benefits are not increased by the COLA directly, but it does affect the PIA, which in turn affects your monthly payments. For example, if a retiree’s current monthly income is $2,000 and the final COLA for 2025 is set at 2.5%, their monthly check would increase by $50, ensuring their total payment $2,050.
