Social Security Disability Income (SSDI) benefits see an increase every year to combat inflation. This increase takes effect for all retirees in the United States. No pensioner, disability or otherwise, misses out on the annual COLA increase.
The COLA, also called Cost of living adjustment, means that each year we get an extra percentage in our monthly Social Security Disability Income checks. In this way, retirees on SSDI can have a little extra money each month.
The effect of this Cost of living adjustment always takes effect at the beginning of each year. This means that January is the first month when we see this increase in age retirement benefits and Social Security Disability Income.
Even so, it is true that due to an irregularity in the calendar the first of the checks with the COLA increase is usually sent out in the previous year. This is because Supplemental Security Income also has a COLA increase.
Since SSI checks are always sent on the 1st of the month except when that day is a holiday or weekend, the January check is sent early. January 1st is always a holiday (sometimes even a weekend, of course). So the Administration sends this payment in advanced in the immediately preceding business day.
This causes the first of the year’s checks to arrive in the previous year. So users with a Social Security Disability Income who have Supplemental Security Income see the COLA earlier in the year as such.
The exact COLA increase will be announced in October. It is still too early to know what the increased amount will be. But it may not be as high as 8.7% in 2023. It is only a matter of time to find out. Although what is certain is that the maximum Social Security check will no longer be $4,555. And the Social Security Disability Income check will no longer be $3,627 per month.