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However, there is one exception: People getting their January SSI checks on December 31 will see the new COLA reflected in that payment, according to the Social Security Administration.
SSI payments for December went out on Friday, Nov. 29, because Dec. 1 was a Sunday, according to the SSA calendar. January's SSI payments always come out early because Jan. 1 is a holiday.
December marks the final month that Social Security recipients will get checks based on this year's historically high cost-of-living adjustment (COLA). The 2023 COLA of 8.7% was the biggest in more...
December will be the final month that Social Security recipients get payments with the 2023 cost-of-living adjustment of 8.7% — the highest in more than four decades.
Millions of older Americans rely on Social Security to stay afloat. And while the average retired worker collects about $1,925 per month, some seniors have to get by on even smaller checks.
Data source: Social Security Administration. Pre-COLA amounts reflect the average benefit paid out in November. 2. Some workers will pay more Social Security taxes in 2025
Furthermore, 43% of retirees believe their benefits will be cut in the future, while 47% of nonretired adults worry that Social Security won't be able to pay them a benefit at all once they retire ...
Image source: Getty Images. 1. The 2025 Social Security COLA. Social Security beneficiaries are getting a 2.5% cost-of-living adjustment, or COLA, starting with the payment they receive in January ...