Early Christmas Cheer: Social Security Payments Arrive a Day Early for Millions of Retirees
In an early holiday gift, the Social Security Administration (SSA) has announced that it will dispense monthly benefits to millions of retirees one day earlier than usual. This year’s December payment will be distributed on Tuesday, December 24, due to Wednesday, December 25, being a holiday.
The SSA has set Tuesday, December 24, as the payment date for retirees born between the 21st and 31st of any month who started receiving benefits after May 1997. This year’s payment could be as high as $4,873 for some beneficiaries, depending on their retirement age.
Retirement Age Impacts Benefit Amount
Not all retirees receive the same amount. The SSA adjusts benefit levels based on the retiree’s age. Those who delay their retirement until age 70 receive the highest benefits, with their monthly checks increasing by more than 100% compared to the full retirement age, totaling $4,873. Conversely, those who retire at the full retirement age of 67 receive a maximum of $3,822, while those who choose to retire early at 62 receive 30% less, amounting to $2,710 this year.
Annual COLA Increase
Every year, the SSA adjusts payments for Social Security beneficiaries, Supplemental Security Income (SSI) recipients, and Social Security Disability Insurance (SSDI) beneficiaries based on the Cost of Living Adjustment (COLA). For 2025, the COLA has been set at 2.5%, although it is lower than previous years, it still results in an increase in benefits. On average, retired workers will see their monthly checks increase from $1,927 to $1,976.
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