Some Social Security recipients will experience altered payment schedules at the end of 2024 and the beginning of 2025. Recipients of Supplemental Security Income (SSI) typically receive payments on the first of each month. However, due to New Year’s Day falling on January 1st, 2025, these payments will be disbursed on December 31st, 2024. Individuals who received Social Security payments before May 1997, or who receive both SSI and Social Security, will receive their SSI payment on January 1st and their Social Security payment on January 3rd, 2025. SSI beneficiaries include older adults with very low incomes and individuals with disabilities. The maximum monthly SSI payment for 2025 is $967 for an individual and $1,450 for a couple.
Further payment date adjustments are scheduled for 2025. In January, SSI will be paid on the 31st due to February 1st being a Saturday. Similarly, March’s SSI payment will be made on February 28th because March 1st falls on a Saturday. April and May’s SSI payments will be made on the first of the month; however, May will feature two payments due to June 1st being a Sunday. August will also have two payments (August 1st and 29th) because September 1st (Labor Day) is the usual payment date. October will see two payments (October 1st and 31st) as November 1st is a Sunday. December’s payment will be made on the regular date, December 1st.
Regular Social Security payments are disbursed on different dates based on the recipient’s birthdate. Those born on the 1st and 10th receive payments on the second Wednesday of the month; those born between the 11th and 20th receive payments on the third Wednesday; and those born between the 21st and 31st receive payments on the fourth Wednesday.
Starting in 2025, both SSI and Social Security recipients will receive a 2.5% cost-of-living adjustment (COLA) increase. This is a decrease from 3.2% in 2024 and 8.7% in 2022. The average COLA over the past 20 years has been approximately 2.6%, ranging from no increase in 2008 and 2010 to a high of 14.3% in 1980. The 8.7% increase in 2022 was the highest in decades, following a 5.9% increase in 2021.