Social Security beneficiaries will experience changes in their payment schedules starting in January 2025. The adjustments come as a response to an upsurge in the Consumer Price Index (CPI), which has affected the annual Cost-of-Living Adjustment (COLA). According to the Social Security Administration, the COLA for 2025 is set at 3.2%. This represents a slight decrease from the 8.7% increase beneficiaries experienced in 2023. These modifications are necessary to ensure the financial integrity of the Social Security Trust Fund. According to experts, the change to beneficiary payments will impact approximately 70 million Social Security recipients. The new payment schedule indicates that beneficiaries whose Social Security number ends in 0 or 1 will receive their payments on the second Wednesday of the month. Those whose numbers end in 2 or 3 will receive payments on the third Wednesday, numbers ending in 4 or 5 will receive theirs on the fourth Wednesday, and those ending in 6 through 9 will receive their payments on the last Wednesday. This structured payment system is designed to streamline the distribution of benefits and reduce potential backlogs. A spokesperson for the Social Security Administration noted, ‘These changes will allow us to make sure that we can provide these essential benefits on time and in full, given the current economic conditions.’ Beneficiaries can check their expected payment dates on the SSA’s official website or contact their local office for more detailed information about the adjustments.
Changes to Social Security Payments Scheduled for January 2025
