SSI Beneficiaries Will Get Their COLA Increase in December. Here’s Why

Social security and supplementary security Income recipients receive a cost of living increases by 8.7% (COLA), starting in January 2023. However, SSI recipients will receive their first increased payment in December of this year. We explain why below.

If you’re not sure how much benefit you’re getting, you can create a My Social Security account online — just make sure to do so by November 15th. Once you’ve done that, you can check your account in early December to see your new benefit amount. You will also receive a letter in the post with all the details sometime in December.

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Here’s why you’ll get your first increased payment in December and when you can expect it. For more, here is Social security payment plan. Here is also how much Medicare premiums and deductibles will cost year 2023.

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Why will I get an increase in my SSI check in December?

The Social Security Administration has a strict schedule it follows when sending out monthly payments. For those receiving SSI, their payments are almost always sent out on the first of each month.

There are two reasons why your payment may not arrive on the first of any month: If the usual payment date falls on a holiday or weekend.

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In January 2023, the first of the month falls on a holiday and a weekend. When this happens, the administration sends the checks earlier on the next business day – in this case, a Friday. So instead of getting your check for January 2023 in January, you’ll get it in December 2022.

Stimulus money payments

You can check your COLA increase in December.

James Martin/CNET

When will I receive my first COLA increase payment?

If you receive SSI, you will receive a payment that Dec. 30 with your new benefit amount. You will not see an increase in your December 1st payment because the COLA increase does not take effect until 2023. Because your first increased payment is scheduled for January 1st (a holiday and holiday), you will receive your first payment in 2023 early.

What if I receive both SSI and Social Security benefits?

If you also receive Social Security benefits along with your SSI, you will receive your SSI increase only in December. Your Social Security benefits will increase on January 3rd, which is a Tuesday.

For more information, here how to apply for social health insurance. Here is also how to pause your Social Security benefits to possibly receive a larger payment later.

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