The Social Security Administration (SSA) has announced that one final Supplemental Security Income (SSI) payment will be sent on December 31, 2024.
This early payment, adjusted for the New Year’s Day holiday, ensures beneficiaries receive their money without delays.
Let’s explore the key details of this last payment, including the Cost of Living Adjustment (COLA) for 2025 and how it impacts recipients.
Why is the SSI Payment Being Sent Early?
The SSA schedules payments for the first of each month. If that date falls on a holiday or weekend, payments are moved to the previous business day. Since January 1, 2025, is a holiday, the payment is issued on December 31, 2024.
How Much Will SSI Recipients Receive?
The SSI payment amounts vary based on factors like income, resources, and eligibility category. Here’s an overview of current and COLA-adjusted SSI benefits:
| Category | Current Payment | 2.5% COLA Increase | Total Amount |
|---|---|---|---|
| Average Payment | $698 | $17 | $715 |
| Individual | $943 | $24 | $967 |
| Couple | $1,415 | $35 | $1,450 |
| Essential Person (EP) | $472 | $12 | $484 |
What is the Cost of Living Adjustment (COLA)?
The 2.5% COLA increase, effective January 2025, ensures SSI payments keep up with inflation.
For instance, an individual recipient’s payment will rise from $943 to $967. COLA adjustments benefit all Social Security programs, including retirement, survivor, and disability insurance.
Retirement, Survivor, and Disability Benefits in 2025
For recipients of Retirement, Survivor, and Disability Insurance (RSDI), the COLA increase applies as follows:
Retirement Benefits
- Average recipient: $1,948 (+$48 increase)
- Age 62: $2,778 (+$68 increase)
- Age 70: $4,995 (+$122 increase)
Survivor Benefits
- Individual: $1,817 (+$44 increase)
- Two children: $3,744 (+$91 increase)
Disability Benefits
- Average recipient: $1,575 (+$38 increase)
- Blind recipients: $2,655 (+$65 increase)
How to Stay Updated on Your SSI Benefits
Beneficiaries can manage their payments and access important details through their My Social Security Account. This platform allows you to:
- Download financial statements.
- Track payment history.
- Request SSA-related services.
The final SSI payment of 2024 is not just an end-of-year payment but a bridge to the enhanced benefits of 2025, thanks to the COLA increase.
Whether you’re receiving SSI, retirement, or survivor benefits, the adjustments ensure your income keeps pace with rising costs.
Stay informed and manage your benefits easily through the SSA’s online resources.
1. Why is the last SSI check arriving in December instead of January?
The payment is rescheduled because January 1, 2025, is a federal holiday.
2. How much will I receive with the COLA adjustment?
Individual recipients will get $967, while couples will receive $1,450 after the 2.5% COLA increase.
3. What is an “essential person,” and how does it affect SSI payments?
An “essential person” is someone living with an SSI recipient who provides care. They qualify for an additional $484 payment in 2025.
4. Will all Social Security programs receive a COLA increase?
Yes, all programs, including retirement, survivor, and disability benefits, will increase by 2.5% starting January 2025.
5. How can I track my SSI payments?
Use your My Social Security Account to view payment details, download statements, and access services.
