600 SSI Increase
SSA Final Payment Batch on April 24: On Wednesday, 24 April, the Social Security Administration (SSA) will send its last round of monthly checks to beneficiaries.
It sends millions of payments per month, with those for retired workers reaching 50.6 million people. Last month, the average value of payments sent by the SSA to retired workers was $1,913.31.
Those whose birthdays fall between the first and twentieth of any month have already received their payments this month.
The 21st through 31st born will receive their benefits on 24 April, along with any family members entitled to benefits.
SSA has also paid beneficiaries who have been receiving benefits since before May 1997, as the group sees its checks deposited on the third of each month unless the day falls on a weekend or holiday; in those cases, the payment will be made on the previous business day.
The date of birth determines when a person receives Social Security benefits.
The May payment calendar will look like this:
When the Consumer Price data for July becomes available in August, we can begin forecasting the 2025 COLA price with greater accuracy. July is also the first month included in the SSA’s Cost-of-Living Adjustment calculations.
To determine how much benefits will increase, the Social Security Administration compares the Consumer Price Index from this year’s third quarter (July, August, and September) to last year’s third quarter.
This year, a 3.2 percent COLA has already been tacked onto benefits, and inflation has already eaten away at more than one percent of this increase.
Inflation, as measured by the Consumer Price Index, has risen by 1.4 percent since the 2024 COLA was announced.
Also Read: Thousands of Children Removed From Social Security: What You Need to Know
This website uses cookies.