Increases in Social Security benefits due to COLA also have an effect on Supplemental Security Income (SSI) checks. This benefit is a type of monthly payment that reaches the neediest United States households, and in a few months the payment will be even larger.
If you’re already collecting a Supplemental Security Income (SSI) payment, you’re in luck, because soon you’ll be able to enjoy a larger benefit. And if you’re also collecting a Social Security check, you should know that the increase will be even larger, since you’ll get two raises right at the beginning of the year.
In any case, be sure to check the eligibility requirements to get a Supplemental Security Income (SSI) check each month, because even if you are currently collecting it, you could stop getting it if you become ineligible. So make sure you are still eligible to get this monthly payment.
What will the Supplemental Security Income (SSI) COLA be in 2025?
As of now, it is not possible to know the exact Cost of Living Adjustment (COLA) for 2025. The official announcement for this COLA will be made in just a few weeks. However, we won’t have the precise COLA percentage for Supplemental Security Income (SSI) increases until mid-October.
That said, experts are predicting that the COLA increase could reach 2.5%. If this is the case, SSI payments could go up to nearly $970 per month.
The key thing here is to ensure that we continue receiving Supplemental Security Income (SSI). If we are still collecting it in January 2025, the COLA will be automatically applied, and we’ll benefit from this extra money each month.
Also, it’s important to note that we don’t need to receive the maximum SSI check to enjoy the COLA increase, as all payments will get this additional amount starting in January 2025. To figure out what our check will be after adding the COLA, we just need to apply that percentage to the amount we are currently receiving.
However, it’s also important to remember that each check is different, and the COLA increase is not yet finalized. So, we still need to wait a little longer to know the exact amount we will receive from SSI in 2025.
