The Social Security timetable for December 2024 has an interesting peculiarity that affected the Supplemental Security Income (SSI) payments. Even though these payments are normally made on the first day of each month, there were no payments on December 1. The reason is simple: the Social Security Administration (SSA) does not issue payments on weekends or holidays, and December 1 was a Saturday.
To ensure that beneficiaries receive their funds on time, SSA advanced payment to the nearest business day, which in this case was Friday, November 29. This advance implies that, technically, the beneficiaries did not receive a payment at the beginning of December, but had already received it before due to this particularity of the calendar.
Payments in January and February 2025 are also moved forward
Scheduling payments in advance may seem confusing at first, but it is common SSA policy, and it has been happening for decades now. These adjustments to the calendar seek to avoid delays and ensure that beneficiaries can access their money in time to cover their needs. The agency chooses to move payments forward, rather than delaying them to the next business day.
The situation will be repeated at the end of December 2024. The payment corresponding to January 1, 2025 will be advanced to Tuesday, December 31, 2024, since January 1 is a national holiday. Therefore, SSI beneficiaries will receive two payments in December: one on November 29, corresponding to December, and another on December 31, corresponding to January.
These payment changes within the same month may cause confusion for some beneficiaries, but it is important to remember that the December 31 payment will be correspondent to the month of January 2025. Another similar case will occur in January 2025.
When does the COLA increase apply to SSI payments?
In October, the Social Security Administration announced a 2.5% cost of living adjustment (COLA) for 2025. This increase is the lowest since 2021 and reflects a slowdown in inflation rates, having already left the stormy years of the pandemic behind. Prices have declined from the peaks reached during the pandemic, which will result in a smaller increase in seniors’ benefits next year.
The 2025 COLA adjustment will add an average of $50 to recipients’ monthly checks. With this increase, the average payment will rise to $1,976 per month. For most Social Security beneficiaries, the new COLA will apply starting with the first January payment.
There is, however, an exception to this rule. Those who receive their Supplemental Security Income (SSI) checks for January on December 31 will see the COLA increase reflected in this payment. Those who applied for Social Security before May 1997 or who receive both Social Security and SSI will receive their payments with the new COLA on January 3.
This has been confirmed by the Social Security Administration through official statements published on its website. The rest of the Social Security beneficiaries will receive the 2025 COLA adjustment based on the January payment schedule, which will not be changed by holidays or weekends.