The Social Security Administration has said that the last payouts for retirement will be made in 2024. Before the 2025 COLA goes into force, retirees can still get money from the Administration three times.
For instance, if you turn 62 on October 3, and you start getting Social Security on November 1, your next payments will be on December 3. The November payment will be sent early, which is good because it will keep the money from having to be sent over the weekend.
Social Security payments in October before the 2025 COLA increase
You can get the October 3 payment for seniors if you meet one of the two requirements set by the US government:
- You started collecting retirement benefits before May 1997
- You are receiving Supplemental Security Income and Social Security (both of them)
- You do not qualify for retirement on the 2nd 3rd or 4th Wednesday
Meeting the age limit is another way to get Social Security money in October, before the 2025 COLA comes of age. In this case, if you were born between 1 and 10, your payment is due on October 9. If your birthday is between 11 and 20, you will get paid on October 16. Or October 23 if you were born between October 21 and October 31.
November and December payments for Social Security before the 2025 COLA
For retirees who are eligible for the payment on October 3, the November payouts will come as a big surprise. In this case, your payment will be sent on November 1 instead of November 3. There will be no changes to the December payment because it will be sent on the third.
People born between November 1 and 10, November 11 to 20, and November 21 to 31 will get money on November 13, 20, and 27. People who don’t qualify for the payment on the third will also get it in December, on the 11th, 18th, and 24th.
Remember that the payment for December 25 will be sent out 24 hours early because that day is a Federal holiday. This means that the last payment before the 2025 COLA raise will be on December 24, 2024. The Senior Citizens League’s most recent predictions say that there could be a 2.5% increase.
Also See:- This is why Social Security won’t pay out in the last week of October