December is a crucial month for those in the US who rely on Social Security, particularly those who get disability benefits, as they typically have no other source of income. It’s crucial to make clear that the 2025 cost-of-living adjustment (COLA) will not be included in the upcoming payment if you were hoping for it. Since the 2024 payment cycle will conclude on December 24, the check will not yet reflect the 2.5% rise that will go into effect in January.
The explanation is straightforward: the December check is still included in the current payment schedule even if it falls on a holiday, and the COLA only applies to payments made the following year. Disability beneficiaries will therefore get their regular deposit in the same amount.
Everything You Need to Know About the December 24 Payment
The last day to receive a 2024 Social Security check is Monday, December 24. Group 4, or beneficiaries who started receiving benefits after May 1997 and whose birthday falls between the 21st and the 31st of the month, is the target of this payment. To make sure that everyone receives it on time, the payment will be moved ahead due to the impending Christmas season.
This check will include all 2024 estimates based on each beneficiary’s work history and wages, even though the 2025 COLA adjustment will not yet be included. It’s crucial to remember that when holidays conflict with the usual calendar, Social Security often pays out on these earlier dates.
When will the 2025 COLA begin to be reflected?
The January 2025 payments will mark the start of the cost-of-living hike. Depending on the group you are in, the first check with the 2.5% modification will be deposited within that month. Disability and other Social Security recipients will get December benefits in 2024 levels until then.
In order to guarantee that recipients have access to their resources prior to the holidays, the Dec. 24 check will not include the 2025 COLA. With the new adjustment, millions of Americans will benefit from an increase starting in January, bringing in a new year with more benefits.
However, that will only apply to retirement benefits. However, if we include SSI payments, we can really receive this increment in 2024 since, due to a calendar anomaly, the first January 2025 payment will be paid on December 31.
Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates, feel free to reach out to us via email. We appreciate your trust and support!
Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.