Your payment will be arriving shortly if you reside in the United States. In actuality, SSI recipients will be the ones receiving the 2025 rise in 2024. This year, the increase will not be applied to any other Social Security benefit.
The additional 2.5% per month will not be available to those who are retired or receiving benefits until January 2025. A lot of you are probably wondering why SSI recipients will receive the 2024 COLA increase rather than the 2025 one.
Social Security and the SSI payment for January in December with COLA
On December 31, 2024, the SSI payment for January 1, 2025, will be made. This payment has been rescheduled for a later date since January 1st is a Federal holiday.
Remember that in the United States, today is New Year’s Day. The funds must be transferred to the recipients’ bank accounts in advance to prevent delays because all banks, credit unions, and SSA offices will be closed.
Just so you know, SSI is a government program for low-income Americans. Checks must always be sent on time so that recipients don’t have to worry about their money because they really need it.
Social Security unveils the SSI amounts for 2025 with COLA
On December 31, 2024, SSI recipients will be eligible to receive up to $967. It is higher than $943. Even though it will just be an additional $24 per month, it will build up to $288 over the course of a year.
The SSI will be sent each month. The reason for receiving it twice is that the money is given early every month. The money should be put aside for the following month. Save this money until January, just like you did with your December SSI paycheck. It isn’t a benefit.
Married couples will receive up to $1,450 instead of $1,415. This rise can result in up to $35 more per month, or $420 more in only one year. Important individuals will also receive up to $484 instead of $472.
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