The Social Security Administration (SSA) has decided when the 2025 COLArise will be paid into qualified SSDI recipients’ bank accounts. The 2.5% COLA increase in January will not take effect until 2024. As a result, if you have disability insurance, you are not now eligible for an increase in the cost-of-living adjustment.
The only Americans eligible for the 2025 COLA increase in 2024 will be those on Supplemental Security Income. So, if you got SSDI on December 3 and also get SSI, the 2025 COLA increase for SSI will be paid on December 31, 2024.
Date for the 2025 COLA if you are on SSDI
The first Social Security Disability Insurance payment reflecting the COLA increase will be made on January 3, 2024. To receive money on this paycheck, you must have filed for and received benefits before to May 1997.
If you did not, you can receive SSDI on January 3, 2025, if you also receive Supplemental Security Income. Other Disability Insurance paydays related to the 2025 COLA rise will be due on:
- January 8: Disability Insurance beneficiaries born from 1-10
- January 15: Disability Insurance beneficiaries born from 11-20
- January 22: Disability Insurance beneficiaries born from 21-31
How much will the 2025 COLA increase SSDI benefits?
All SSDI benefits will rise by 2.5 percent. That is 2.5 bucks for every $100 you receive from Social Security. Therefore, if you receive a $1,000 payment, your new check after COLA will be $1,025.
SSDI beneficiaries who qualify for an average payment of $1,542 in 2024 will receive around $1,580 following the COLA increase. This amounts to around $38 more per month, which is about 11 dollars less than the average monthly rise for retirees.
The highest SSDI benefit payout with COLA will be $4,018, up from $3,822. As you can see, this increase has nothing to do with the average COLA for all claimants. This is because these payments are based on the taxable maximum, which climbs faster than the yearly COLA.
Also See:- The list of Social Security changes for 2025 is now official – What retirees should keep in mind
