One last group of Social Security beneficiaries are waiting for payments scheduled for the end of December 2024 and during the month of January 2025, as there are important changes in the usual payment schedule.
These adjustments are necessary due to the approaching holidays and federal holidays that may affect the receipt of checks. Remember that the Social Security Administration (SSA) does not send payments on weekends or holidays, but rather advances them to the nearest previous business day.
December 2024 Social Security Payments
Following the holidays, Supplemental Security Income (SSI) recipients will receive an additional payment on December 31, 2024. This payout is not only considered a bonus, but also reflects the new cost of living adjustment (COLA). ) that will apply to all of your 2025 payments. This adjustment is crucial to ensure that recipients’ purchasing power is adequate and that they can afford expenses in the new year.
Let’s remark again that January 1, 2025 will be a federal holiday, which means no additional payments will be processed on that day. For this reason, the disbursement will be sent on December 31, following the SSA policy mentioned above.
January 2025 Payment Schedule
The start of January will bring with it the regular scheduling of Social Security and SSI payments. Below is the payment schedule for the month:
January 3, 2025: Beneficiaries who applied for Social Security before May 1997 or who receive both Social Security and SSI will see the new COLA adjustment reflected in their payments on this date. This will be the first payment of the year and with it the corresponding increase will be applied to all beneficiaries.
January 8, 2025: Beneficiaries whose births fall between January 1 and January 10 will receive their payment adjusted with the new COLA on this date. This adjustment is crucial to ensure they receive adequate help from the beginning of the month.
January 15, 2025: On this date, those born between the 11th and 20th of the month will receive their new payment with the cost of living adjustment. It is essential for these beneficiaries to be aware of this date to properly plan their finances.
January 22, 2025: Finally, beneficiaries born between January 21 and January 31 will receive their adjustment on this date. This payment will reflect the new increase in your benefit, ensuring that all beneficiaries have access to the financial assistance they need as the new year begins.
Maximum payment amounts for Social Security and SSI
Starting in 2025, the maximum amounts for Social Security and SSI beneficiaries will receive the cost of living adjustment (COLA) that applies from the first payment of the year, which is the SSI payment (sent on December 31, for reasons which we explained above).
To start, those who started claiming their payments at their full retirement age (FRA), which is 66 or 67, depending on their year of birth, will be $4,018 for the entire year. For those who claimed their retirement at age 70, the monthly check will be $5,108.
For SSI recipients, the monthly allowance amounts to $967 for an individual and $1,450 for an eligible couple, while for an essential support person the payment can be up to $484.