Social Security payment arriving Jan 15th - Does it include the 2025 COLA already?
I just got notified that my first Social Security retirement payment will be deposited on January 15th, 2025. When I spoke with the SSA representative last month, they gave me the payment amount, but now I'm confused about something. Since I requested my benefits to start in January 2025, I'm wondering if this first payment is actually for December 2024? And if so, would that payment already include the 2.5% COLA increase for 2025, or would it be at the 2024 rate? The amount they told me was $2,145, but I'm not sure if that factors in the COLA or not. Has anyone gone through this recently who might know?
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Amina Toure
its for the month before. SS always pays a month behind. so Jan 15 payment is December benefit
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Paolo Esposito
•Thanks! So if it's for December, would the January payment (coming in February) be the one with the 2.5% COLA increase? Just trying to figure out my budget for next year.
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Oliver Weber
The Social Security payment you receive on January 15th will be for December 2024, and it will NOT include the 2.5% COLA increase. The COLA increase takes effect with January 2025 benefits, which you'll receive in February 2025. Social Security benefits are always paid the month after they're due. So: - January 15th payment = December 2024 benefit (no COLA) - February payment = January 2025 benefit (with 2.5% COLA) You should receive a notice from SSA in December showing your new benefit amount with the COLA increase.
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Paolo Esposito
•Perfect explanation, thank you! I was getting confused with all the different dates. So I'll budget based on the original amount for the January payment and then expect the higher amount in February. Really appreciate the clarification!
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FireflyDreams
•Is this always true tho?? When I started my benefits last year, I swear the amount they originally told me already had the COLA factored in. The SSA rep specifically mentioned it included the new year's increase. Now I'm wondering if I misunderstood something...
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Natasha Kuznetsova
NOBODY from Social Security can ever give you accurate info!!! I started my benefits in Nov 2024 and was told THREE different amounts by THREE different reps!!! The amount they initially quoted me was WRONG and my actual payment ended up being $327 less than what they promised. Don't trust what they told you until you actually see the deposit. And GOOD LUCK trying to get through to anyone on the phone to get it fixed!!!
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Javier Morales
•Have you tried Claimyr? I was in the same boat trying to get through to SSA for weeks about a payment issue. I found this service at claimyr.com that got me connected to a real SSA agent in under 20 minutes instead of waiting on hold for hours. They have a video showing how it works: https://youtu.be/Z-BRbJw3puU. It saved me so much frustration when I needed to sort out my benefit calculation confusion.
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Emma Anderson
congrats on retiring! i turn 62 next month but still working. trying to decide when to start collecting. did u take yours at full retirement age or earlier?
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Paolo Esposito
•Thanks! I'm actually taking mine at 67 (my FRA). Considered waiting until 70 for the extra 8% per year, but decided I'd rather have the money now while I can fully enjoy it. Everyone's situation is different though!
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Emma Anderson
•smart move. life is short enjoy the money!
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Malik Thompson
To answer your question - yes, the amount they quoted you ($2,145) probably already includes the 2.5% COLA. When they calculate a future benefit that crosses into the next calendar year, they typically factor in the already-announced COLA. You can double-check by looking at your my Social Security account online or asking them specifically.
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Oliver Weber
•Actually, this isn't correct. The amount quoted for a December 2024 benefit wouldn't include the 2025 COLA. SSA calculates benefits based on the year they're for, not when they're paid. The first payment with the 2025 COLA would be the January 2025 benefit (paid in February). The online MySocialSecurity account should show both the current and future benefit amount after COLA if they've been calculated.
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Amina Toure
my first check was $43 short of what they told me. when i called they said it was because of medicare part B premium. did they mention if your amount was before or after medicare deduction??
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Paolo Esposito
•That's a good point! They didn't specify, but I'm not enrolled in Medicare yet (will be later next year). But I'll definitely keep that in mind when Medicare kicks in!
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Oliver Weber
One other thing to be aware of: Your January 15th payment date suggests you were born between the 1st and 10th of the month. Social Security payment dates are based on your birth date: - Born 1st-10th: Payment on 2nd Wednesday (around the 8th-14th) - Born 11th-20th: Payment on 3rd Wednesday (around the 15th-21st) - Born 21st-31st: Payment on 4th Wednesday (around the 22nd-28th) This schedule is consistent month to month, so all your future payments should arrive on the second Wednesday of each month.
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Paolo Esposito
•Yes, I was born on the 5th, so that explains the second Wednesday schedule. Thank you for laying out all the payment dates so clearly!
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Emma Olsen
Just wanted to add - make sure to check your MySocialSecurity account online in December for your official COLA notice. It should show exactly how much your benefit will increase starting with the January 2025 benefit (paid in February). The notice will break down your old amount vs. new amount so there's no guessing. Also, if you haven't already, I'd recommend setting up direct deposit notifications with your bank so you know exactly when each payment hits your account!
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