The State of New York has been able to announce the COLA increases for United States citizens living in New York. Social Security will increase, as will happen in all States, starting this January so that the checks will have a higher value for all beneficiaries. So if you already collect a Social Security benefit, you will have an increase this January.
In case you have not yet gotten your January benefit check, you will be able to enjoy this increase very soon. The Social Security Administration will still be able to send two new payments to New Yorkers in the coming weeks. There’s one check coming this week and another check heading to beneficiaries’ pockets in the second-to-last week of the month.
And those two checks are the first that some New York State beneficiaries will get with the COLA increase already included. Each of these checks will have a new maximum benefit, but the payment each retiree gets will depend on the Social Security payment they collected in the past year 2023. If your retirement begins in January of this year, then you will not have an increase, since the COLA increase will automatically be included from the beginning. When do you normally get your Social Security retirement check?
Retirement check increase for New York beneficiaries
Retirees who have a Social Security benefit in New York may see the increase just like all other beneficiaries in the United States. In this regard, there is a figure set by the Central Government that will cause all retiree checks to increase. This figure is a percentage, which causes beneficiaries to get a different dollar amount.
The percentage of the Social Security check increase is 3.2%. So your benefit from last year will increase that amount starting with the first of the January payments. And it doesn’t matter what state you live in or what retiree group you belong to. Likewise, it doesn’t matter what type of retirement we have either. It doesn’t matter if our check is for retirement, disability or some other reason.
What is important in these cases is that we have a Social Security benefit, in New York or any other state, and we have not yet collected it in January. In any case, retirees who already have this check will have noticed that the amount has increased.
When are the next Social Security payments?
Before the end of January there are two more Social Security retirement payments. New Yorkers will be able to enjoy these payments on the 17th and 24th of January. Each day has different requirements. Pay attention to these conditions:
- January 17th. It is mandatory to have the benefit since after 1997 and to have your birthday between the 11th and 20th of the month.
- January 24th. To obtain this payment it is necessary to have applied for retirement since after 1997 and to have reached the age of retirement between the 21st and 31st of any month.
Only by fulfilling these requirements we will be able to obtain the payment of these days. And remember that it does not matter the type of retirement or if we live in New York or in any other State. The important thing is to be within these groups of retirees.