Weeks away from 2025, the U.S. Social Security Administration (SSA) announced certain measures that will affect millions of beneficiaries. Due to problems with the dates, government authorities modified the first payment of the year and cancelled the original date. Therefore, citizens will start the new year on the wrong foot.
Attention beneficiaries: this is what will happen with the first Social Security payment of 2025
First of all, it is necessary to remember that Social Security is the largest federal program of the U.S. Government. Currently, it has more than 70 million members who receive financial assistance to face the current complicated economic situation of the country. And for next year, these beneficiaries will be affected by certain adjustments in the payment dates for each service.
As indicated in the official calendar, the first payment of the year should be made on January 1, 2025 for all Supplemental Security Income (SSI) recipients. This date was left this way, because it used to be paid on the first day of the month. However, this payment was cancelled and brought forward.
This is the strategy SSA adopts when an original deposit date coincides with a holiday or weekend day. Likewise, the payment will be moved up for Tuesday, December 31 and will count against the 2.5% increase, effective 2025. So, to be clear, the first January payment was cancelled and moved forward to the last business day of 2024.
Dates on which there will be no payments in 2025
There are several months of next year where there will be modifications in the payment dates and they will be moved forward because they do not coincide with working days. Here is the list of these dates:
- January 31
- February 28th
- April 1st
- May 1st
- May 30th
- July 1
- August 1st
- August 30
- October 1
- October 31
- December 1st
- December 31st
Minimum Retirement Increases in 2025 and Other Changes
The U.S. Social Security Administration (SSA) confirmed the inflation and COLA (Cost of Living) adjustment increase for 2025. It is a 2.5% increase for all services and beneficiaries. And while the amount is much lower than in previous years, it establishes a new minimum for all retirees and people receiving pensions under the program.
In addition to this increase, Social Security will implement some changes that will mainly affect retirees during 2025. The first of these has to do with the increase in the full retirement age. Currently, people can access their retirement with 100% of the pension between 66 years and two months and 67 years of age. Now, there will be a gradual increase, but the fact that the full age will be based on the year of birth will continue to be maintained.
In addition to the COLA adjustment, there is also a change in the accumulation of labor credits. Recall that, in the United States, to become a retiree, you have to have a certain amount of credits that are the result of work. Now, the SSA plans to change the necessary requirements, which will soon be announced through its official media.
As you can see, the SSA will be contemplating a lot of modifications for the coming year that will affect millions of beneficiaries. But the good news here is the increase in the Social Security amount and the advancement of the date of the first payment of 2025, which will be finalized on December 31.
