The Social Security Administration (SSA) is a federal agency tasked with providing monthly benefits to Americans eligible for the Old Age, Survivors, and Disability Insurance (OASDI) and Supplemental Security Income (SSI) programs. These programs are crucial in offering financial assistance to retirees, survivors, and individuals with disabilities.
As 2024 draws to a close, the SSA has announced that all qualifying beneficiaries will begin receiving their increased Social Security payments in January 2025. This increase is part of the annual cost-of-living adjustment (COLA), which for this year is set at 2.5%. The COLA is intended to help recipients maintain their purchasing power and manage inflation-related price increases.
With the 2.5% increase, beneficiaries will receive monthly Social Security checks ranging from $715 to $4,995, based on their eligibility and payment details. This adjustment is designed to help recipients cope with the rising cost of living and continue covering their basic expenses.
For many Americans who rely on Social Security benefits, this COLA increase is an important measure to ensure they can maintain financial stability in the year ahead. The SSA’s adjustments are a key part of ensuring that recipients can keep up with the changing economic environment.
Social Security Checks to Increase in January 2025
Starting January 3rd, 2025, Social Security beneficiaries will receive their increased checks. This includes retirees, survivors, and disabled Americans who started receiving benefits before May 1997. After this initial payment, the Social Security Administration will send checks to other OASDI beneficiaries on the second, third, and fourth Wednesdays of each month, based on specific eligibility criteria.
The payment schedule ensures beneficiaries get their increased checks on time, and each group will be paid on their designated Wednesday. Beneficiaries should check the official Social Security payment schedule to know the exact date for their payment.
- Beneficiaries born between the 1st and 10th, who requested benefits after May 1997, will receive their increased checks on January 8th.
- Beneficiaries born between the 11th and 20th, who requested benefits after May 1997, will receive their increased checks on January 15th.
- Beneficiaries born between the 21st and 31st, who requested benefits after May 1997, will receive their increased checks on January 22nd.
New 2025 Payment Amounts for OASDI Beneficiaries
Retirement Benefits
| Retirement Benefits | Social Security Checks | 2.5% COLA Increase | Extra Income |
|---|---|---|---|
| On average | $1,900 | $1,948 | $48 |
| Age 62 | $2,710 | $2,778 | $68 |
| Age 67 | $3,822 | $3,918 | $96 |
| Age 70 | $4,873 | $4,995 | $122 |
Survivor Benefits
| Survivor Benefits | Social Security Checks | 2.5% COLA Increase | Extra Income |
|---|---|---|---|
| On average | $1,505 | $1,543 | $38 |
| Individual | $1,773 | $1,817 | $44 |
| 2 Children | $3,653 | $3,744 | $91 |
Disability Benefits
| Disability Benefits | Social Security Checks | 2.5% COLA Increase | Extra Income |
|---|---|---|---|
| On average | $1,537 | $1,575 | $38 |
| Blind recipients | $2,590 | $2,655 | $65 |
| Maximum payment | $3,822 | $3,918 | $96 |
Senate Push for Social Security Benefits Expansion
The Senate is set to vote on the Social Security Fairness Act, which would provide full benefits to millions of Americans by removing limits on payouts for 2.8 million people. The bill has 62 Senate cosponsors and bipartisan support in the House. To pass, it needs at least 60 Senate votes before reaching the President.
The bill would increase taxes on Social Security Trust funds, which were already predicted to run short by 2035. This could add $195 billion to the federal deficit over the next decade. A typical two-earner couple retiring in 2033 might lose $25,000 in lifetime benefits, and the program’s insolvency could occur six months earlier.
