Social Security Payments Update: What to Know About Retirement and Disability Benefits

Monday, 16 September 2024, 02:50

Social Security benefits are being distributed this week, affecting retirement and disability payments. Millions rely on these funds monthly. The next set of checks will reach beneficiaries with birthdays from the 11th to the 20th. A Cost of Living Adjustment (COLA) for 2025 is anticipated soon, altering future payments.
Newsweek
Social Security Payments Update: What to Know About Retirement and Disability Benefits

Social Security Payment Schedule for September

Another round of Social Security payments is being issued this week, impacting millions of American retirees. The Social Security Administration (SSA) distributes benefit payments each month, but not everyone is paid at the same time:

  • Individuals born between the 11th and 20th will receive their retirement checks on September 18.
  • Beneficiaries receiving SSI only were already paid on August 30.
  • Those who have claimed benefits since before 1997 were paid on September 3.
  • Payments for those born between the 1st and 10th were issued on September 11, with future payments for those born from the 21st to 31st on September 25.

Cost of Living Adjustment Forecast

Key insights indicate that recipients will not see an immediate Cost of Living Adjustment (COLA), with the official announcement for 2025 coming in October. Mary Johnson, a policy analyst, has projected a COLA increase of 2.5%, slightly down from August's estimate. If true, a beneficiary currently receiving $1,870 could see a monthly rise of around $46.80 in 2025.

About Social Security Retirement Benefits

The average monthly retirement benefit in January 2024 is projected at $1,907. Benefits are calculated based on an individual's highest-earning 35 years, adjusted for inflation.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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