As the last payment of Social Security for October 2024 gets closer, many people who receive benefits are wondering if their check on October 23 will have the 2025 Cost of Living Adjustment increase.The short answer is no—the 2025 COLA adjustment will not be reflected in the payments issued on October 23, 2024.
What to Expect on October 23
The payment scheduled for October 23, 2024, is the last in a series for SSA beneficiaries born between the 21st-31st of the month. The 2.5% 2025 COLA increase will only apply to payments starting in January 2025, meaning checks issued in October will remain at the same rate as before.
When Will the 2025 COLA Take Effect?
Social Security beneficiaries can expect their first COLA-adjusted payment in January 2025. The exact payment dates are determined by your birthdate:
- January 6, 2025: Beneficiaries born between the 1st and 10th of any month.
- January 15, 2025: Beneficiaries born between the 11th and 20th.
- January 22, 2025: Beneficiaries born between the 21st and 31st.
The payment will be distributed on January 3, 2025, for those receiving both Social Security and Supplemental Security Income (SSI) or for people who have been receiving benefits since before May 1997.
How Much Will the 2025 COLA Increase Payments?
The 2.5% COLA adjustment for 2025 is smaller compared to recent years, but it still represents an important increase to help beneficiaries keep up with inflation. Here’s how the increase will affect the average payments:
| Beneficiary Category | 2024 Average Payment | 2025 Increase (2.5%) | 2025 Average Payment |
|---|---|---|---|
| Retired Worker | $1,920.48 | +$48.01 | $1,968.49 |
| Spouses of Retired Workers | $909.78 | +$22.74 | $932.52 |
| Children of Retired Workers | $892.68 | +$22.32 | $915.00 |
| Widowed Mothers and Fathers | $1,286.16 | +$32.15 | $1,318.31 |
| Disabled Widow(er)s | $927.71 | +$23.19 | $950.90 |
While the October 23, 2024, Social Security payment will not include the 2025 COLA increase, beneficiaries can expect a modest boost starting in January 2025. This 2.5% adjustment will help offset inflation and provide increased support for millions of Americans.
Be sure to log into your My Social Security account in December to review your updated benefit amount and plan accordingly for the year ahead.
FAQs
No, the COLA adjustment for 2025 will not be reflected in the October payment. The increase will begin in January 2025.
Your first COLA-adjusted payment will arrive in January 2025, with exact dates depending on your birthdate.
The 2025 COLA is set at 2.5%, which will add an average of $48 per month to a retired worker’s benefit.
You can check your new benefit amount by logging into your My Social Security account online starting in December 2024.
Yes, all Social Security and SSI recipients will receive the COLA adjustment starting with their January 2025 payment.
