Last month, we finally found out when the cost of living increase (COLA) for next year would be made public. The official COLA raise that will affect Social Security payments for retirees, survivors, disabled people, and people who get Supplemental Security Income (SSI) will be confirmed by the Bureau of Labor Statistics on October 10th.
The final percentage will be released next week, but this increase will not be included in the last two Social Security payments, which are due on October 6th and October 23rd. It will only start to show up in January payments.
Social Security payments are scheduled to be mailed within the next three weeks
Every month, the Social Security Administration pays more than 70 million people who are eligible. So, to keep track of the exact payment dates for each program they are qualified for, they made a monthly plan. Based on when Social Security payments will be made in 2024, these are the last two payments that will be made in October:
- On October 16th, or the second Wednesday of the month. This day is when those beneficiaries who were born between the 1st and the 10th get their benefits.
- On October 23rd, or the second Wednesday of the month. This day is when those beneficiaries who were born between the 1st and the 10th get their benefits.
Please be aware that if you don’t get your payment on time, you should wait at least three mail days before calling the Social Security Administration’s customer service. Also, remember that you can look at your “My Social Security Account” to see your payment amount and more information about different Social Security issues.
How much money will beneficiaries earn in the next Social Security payment?
At the moment, beneficiaries who are qualified for the retirement, survivor, and disability insurance (RSDI) program can choose from a number of payment amounts.
The Full Retirement Age (FRA), working experience, and the amount of Social Security taxes paid during a person’s working years are some of the things that the Social Security Administration looks at. Please look at the following information to learn more about all the payment amounts that are offered for each program:
| Social Security payments | Retirement benefits | Survivors benefits | Disability benefits | SSI benefits |
| On average | $1,900 | $1,505 | $1,537 | $698 |
| Other payments | Age 62: $2,710
Age 67: $3,822 Age 70: $4,873 |
Individual: $1,773
2 Children: $3,653 |
Blind recipients: $2,590
Maximum payment: $3,822 |
Individuals: $943
Couples: $1,415 Essential person: $472 |
Checks can be anywhere from $698 to $1,900 per month on average, but there are also different limit checks for each program. It’s important to note that individuals must meet strict requirements in order to get the most benefits. To improve your chances of getting this check, it’s always a good idea to talk to a financial advisor or a Social Security expert.
Also, remember that you can always go to your My Social Security payment account to get more information about your Social Security payments. This is where you can download your financial records, request your Social Security cards, and even ask for more Social Security-related services.
How much will beneficiaries receive once the COLA adjustment is approved?
If the COLA increase for 2025 is approved next week, it will be added to the payments that people get from Social Security for that year. We won’t know that until next week, so let us give you a guess based on the most recent score from the Senior Citizens League. These are the Social Security payouts for next year if the 2.5% COLA goes into effect:
| Retirement benefits (Plus 2.5%) | Survivor benefits (Plus 2.5%) | SSDI benefits (Plus 2.5%) | SSI benefits (Plus 2.5%) |
| On average: $1,948
Age 62: $2,778 Age 67: $3,918 Age 70: $4,995 |
On average: $1,543
Individual: $1,817 2 Children: $3,744 |
On average: $1,575
Blind recipients: $2,655 Maximum payment: $3,918 |
On average: $715
Individuals: $967 Couples: $1,450 Essential person: $484 |
Also See:- Double SSI payments in November following 2025 COLA: Will they increase?