Social Security recipients won’t have to wait too long to get their first checks reflecting the 2024 cost-of-living adjustment (COLA). Beginning in January, the COLA will be 3.2% — much lower than the 8.7% bump approved for 2023.
Some Social Security recipients won’t even have to wait until the new year to get their first checks with the 3.2% COLA. Those who also qualify for Supplemental Security Income benefits will get their January SSI payments on Dec. 29, 2023. The reason is that the date they normally get their checks — the first of the month — is the federal New Year’s Day holiday, which falls on Monday, Jan. 1, 2024.
Outside of SSI beneficiaries, the first Social Security checks with the 2024 COLA will be distributed on Jan. 3. The 2024 payment schedule follows the usual pattern that has been in place for many years — and also includes the usual quirks. SSI beneficiaries get two payments in May, August and November, while no payments are deposited in January, June and September. One check is issued the remaining six months: February, March, April, July, October and December.
Here are the important payment dates to know for January 2024:
- Wednesday, Jan. 3: Beneficiaries who began receiving payments before May 1997
- Wednesday, Jan. 10: Beneficiaries with a date of birth between the 1st and 10th
- Wednesday, Jan. 17: Beneficiaries with a date of birth between the 11th and 20th
- Wednesday, Jan. 24: Beneficiaries with a date of birth between the 21st and 31st
If you received Social Security before May 1997 or if you’re receiving both Social Security and SSI, then Social Security is typically paid on the 3rd of the month and SSI on the 1st. To see payment dates for all of 2024, visit this SSA site.
