Benefits will go up by about 2.5% because of the 2025 COLA increase. Some people will not see this cost-of-living adjustment increase, though, until December 31, 2024. Others will have to wait until January 20, 2025.

If you get your January 1 payment on time, which is set for December 31, 2024, it’s because you get Supplemental Security Income. The good news is that you will get the COLA increase before people who are retired or getting SSDI. There is some bad news for people who get SSI, though.

SSI, Social Security recipients get COLA on different dates

On December 31, you will also get an extra 2.5% if you get Supplemental Security Income. Still, you won’t get the extra $50 that retirees get on average because your maximum SSI amount and average payments are lower.

This is the only bad thing about it, but people who are eligible can get up to $967 after COLA. The most you can get from SSI will now be this, up from $943. It used to be $1,415, but now married couples can get up to $1,450.

Up from $472, an important person will now get up to $484. The dates that retirees and people who get SSDI will get the 2025 cost-of-living adjustment increase are:

• Cost-of-living adjustment on January 3
• Cost-of-living adjustment on January 8
• Cost-of-living adjustment on January 15
• Cost-of-living adjustment on January 22 

How does the 2025 COLA increase compare to previous years?

Social Security benefits will go up by 2.5% in 2025, which is less than the recent increases. This is because of the cost-of-living adjustment (COLA). The CPI went down from 8.7% in 2023 to 3.4% in 2024.

• The 2.5% COLA for 2025 will result in an average monthly benefit increase of around $48, raising the average payment to nearly $1,920.
• The 2025 COLA is lower than recent years’ increases. But, it is higher than historic trends, especially during the Great Recession when inflation was low.
• COLAs help Social Security recipients keep up with rising prices for essentials like food and housing. They have been automatic since 1972.
• Some seniors and experts argue that the 2.5% COLA is too low. It doesn’t reflect the inflation retirees face, especially in healthcare and housing costs.
• Social Security is the main income for 40% of older Americans. So, COLAs are vital for an inflation-proof retirement income.

Eligibility for Social Security COLA in January 2025

Let me let you know that if you started getting Social Security before May 1997, you will get the cost of living adjustment increase on January 3, 2025. Or if you are getting both SSI and Social Security at the same time.

If you don’t qualify for the payment on January 3, and you were born between January 1 and 10, COLA will be added to your January 8 payment. Of course, to get any of these January payments, you have to have applied for retirement or SSDI.

The COLA increase will be given to people on Social Security who were born between November 11 and January 20, 1960. If your birthday is between January 21 and January 31, it will be on January 22. Social Security will give retirees an extra $49 a year on average.

• Source:
• https://www.ssa.gov/news/press/factsheets/colafacts2025.pdf
• https://www.ssa.gov/pubs/EN-05-10031-2025.pdf 

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