Millions of Americans relying on Supplemental Security Income (SSI) are set to receive an average payment of $930 in February 2025. This increase comes as part of the Social Security Administration’s (SSA) annual cost-of-living adjustment (COLA), which aims to help recipients keep up with rising expenses.
Why the Increase?
Every year, the SSA adjusts benefits to reflect inflation. For 2025, the COLA is set at 2.5%, ensuring that recipients receive a little extra to cover the increasing costs of food, rent, and healthcare. This means individual SSI recipients will now get up to $967 per month, while eligible couples can expect up to $1,450.
When Will You Get Paid?
The new payment rates took effect in January 2025, but SSI recipients actually started receiving their increased benefits a little earlier—on December 31, 2024. For February, payments will be sent as usual, with most recipients getting their checks or direct deposits on the first of the month.
Is This Enough?
While the COLA increase provides some relief, many retirees and disabled individuals feel it’s not enough to keep up with rising costs. The average COLA over the past decade has been about 2.6%, with a slightly higher 3.2% increase in 2024. However, with the cost of housing, groceries, and medical expenses soaring, many beneficiaries worry that these adjustments still fall short.
How to Check Your New Payment Amount
The SSA has made it easier for beneficiaries to stay informed about their payments. You can check your exact benefit amount by logging into your “my Social Security” account online. SSA also sends out notices via mail and email to inform recipients of their updated benefits.
What’s Next?
As the cost of living continues to rise, Social Security recipients should keep an eye on future announcements and adjustments. It’s always a good idea to plan ahead and explore additional financial assistance programs if needed.
For more information on your benefits, visit www.ssa.gov or call the Social Security Administration directly.
