Headline:
SSA‘s Final Payments of the Year: Dates, Recipients, and Amounts, Including the First COLA 2025 Payment
Subhead:
Discover the exact dates for the last payments of 2024, beneficiaries, and amounts, including the first SSI payment with the 2.5% COLA increase.
Article:
The Social Security Administration (SSA) is set to make its last payments of 2024, with important dates and beneficiary details revealed in its official schedule. Let’s break down the key information you need to know.
Who Receives the Last Payments of 2024?
-
Tuesday, December 24:
- Beneficiaries: Those who retired after May 1997 and were born between the 21st and 31st of any month.
- Inclusions: This payment covers retirees, Social Security Disability Insurance (SSDI), and survivor beneficiaries.
- Tuesday, December 31 (Advance Payment):
- Beneficiaries: Recipients of the Supplemental Security Income (SSI) program.
- Details: This payment, which includes the COLA (Cost of Living Adjustment) increase of 2.5%, will be made on the last business day of December due to January 1, 2025, being a New Year’s Day holiday.
What Are the Payment Amounts?
- Average Monthly Payment: Around US$1,907.
- Early Retirees (Age 62): Up to US$2,710 per month.
- Full Retirement Age (67): Up to US$3,822 per month.
- Delayed Retirement (Age 70): Up to the maximum of US$4,873 per month.
For SSI beneficiaries, the average individual payment will be about US$967, average couple payment will be US$1,450, and essential person payment will be US$485 with the COLA increase.
The SSA reminds that scheduled payment dates may be adjusted if they fall on a weekend or holiday. To stay informed, you can visit the official SSA website.
