For those in the United States who rely on Social Security, particularly Disability benefits, December is a busy month because they typically have no other source of income.
You should be aware that the 2025 cost-of-living adjustment (COLA) will not be included in the upcoming payment, if that was your expectation. The 2024 payment cycle will not yet reflect the 2.5% rise that will take place in January because the check will be sent on December 24.
The straightforward explanation is that 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 issued the following year. This implies that the amount of disability benefits will remain the same and that recipients will receive their regular deposit.
Everything You Need to Know About the December 24 Payment
On Monday, December 24, the final 2024 Social Security check will be issued. This reward is given to members of group 4. These are individuals whose birthdays are between May 21 and May 31 and who began receiving benefits after May 1997. Due to the approaching Christmas holiday, the payment will be moved earlier to ensure that everyone receives their money on time.
This check will not yet include the 2025 COLA increase; instead, it will be based on all 2024 computations for each beneficiary, taking into account their wages and work experience. It’s crucial to keep in mind that when holidays interfere with the regular timetable, Social Security will typically pay out on these earlier dates.
When will the 2025 COLA begin to be reflected?
Beginning with the payments in January 2025, the cost of living will increase. This implies that the first check with the 2.5% change will be deposited that month, depending on the group you are in. Social Security benefits for people with disabilities and other recipients will be equal to their 2024 benefits in December.
Because of this, the 2025 COLA will not be included in the Dec. 24 check; nevertheless, it will ensure that beneficiaries receive their funds prior to the holidays. When the new adjustment takes effect in January, millions of Americans will receive raises. A new year with additional advantages will result from this.
However, that will only occur if retirement benefits are paid. The first payment for January 2025 will be issued on December 31, 2024, thus if we look at SSI payments, we can get this rise in 2024. This is the result of a calendar error.
See Also: The Choice That May Boost Your 2025 Social Security Benefits
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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.