The Social Security Administration, amid the chaos of deep cuts and layoffs, is all set to issue the first round of COLA payments on the 9th of April 2025. The social security payment is a part of its staggered distribution system. It schedules these payments according to the birth date of the beneficiaries and the time they started receiving the benefits. If you are someone who wants to know whether you’ll receive your Social Security payment on April 9, this article is for you. It brings you everything you need to know about the Social Security first round COLA payments scheduled for issue on the 9th of April 2025.
Social Security COLA Payments On April 9: Who Will Receive It?
The Social Security payments that are scheduled for issue on the 9th of April 2025 are for retirees who have a date of birth between the 1st and 10th of any month. Another condition necessary to determine your eligibility for receiving the money is the time at which you started receiving the benefits. If you started receiving Social Security benefits after May 1997, you are eligible.
How Much Benefits Will You Receive?
The amount of benefits that you might receive depends widely on your earnings history along with your retirement age and your claiming strategy. The maximum benefits at the age of 62 are $2,831, while the maximum benefits at the age of 70 are $5,108. The average monthly benefit ranges around $1,976. If you are claiming after you attain the age of 70 often results in higher monthly benefits. However, in most cases, personal circumstances guide when someone chooses to retire.
2.5 Percent COLA Boosts Payments in April
Every Social Security payment you will receive this year in 2025 will also contain the latest 2.5% cost-of-living adjustment. This adjustment officially came into effect in the month of January this year. The cost-of-living adjustment, often abbreviated as COLA, is designed in order to help the beneficiaries cope with rapidly growing inflation. The cost of food, housing, and medical care is constantly rising. Though it came into effect at the start of this year, COLA ensures you receive higher payments than you did in 2024.
Social Security COLA Monthly Payment Schedule
If you are someone who is awaiting your next SSA payment but are not eligible to receive the payment on April 9, you will receive the payment this month, too. The Social Security Administration follows a monthly payment schedule for those who started receiving the benefits after May 1997. It issues the payments in three waves throughout the month.
Those who have their birth dates between the 1st and the 10th of any month receive it on the Second Wednesday. If you have your birth dates between the 11th and the 20th of any month you will receive it on the Third Wednesday. People who have their birth dates between the 21st and the 31st of any month receive it on the Fourth Wednesday.
Those who started receiving benefits before May 1997 will receive them on the 3rd of each month.
What To Do If Your Social Security COLA Payment Is Late?
In case your Social Security payment is late you may wait for at least three business days before taking any action. Delays often happen because of holidays or banking issues. You may also check your My Social Security account for any updates or notifications about your payment. You can also contact the banks to confirm that there a no internal delays. If you still haven’t received your payment, you may contact the administration at 1-800-772-1213.
