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

Recipients of Social Security and Supplemental Security Income are receiving a 8.7% increase in cost of living (COLA), starting in January 2023. However, SSI recipients will get their first payment increase in December of this year. We explain why below.

If you are not sure about the benefit increase you are getting, you can create a My Social Security account online, just be sure to do it before November 15. After you do, you can check your account in early December to see your new benefit amount. You will also receive a letter in the mail with all the details sometime in December.

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Here’s why you’ll get your first pay raise in December and when you can expect it. For more, here is the Social Security payment schedule. Also, here it is how much Medicare premiums and deductibles will cost in 2023.

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Why am I getting an increase in my December SSI check?

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

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

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In January 2023, the first day of the month falls on a public holiday Y a weekend. When this happens, the administration sends the checks before the nearest business day, in this case, a Friday. So instead of receiving your January 2023 check in January, you will receive it in December 2022.

stimulus money payments

You can check the increase of your COLA in December.

James Martin/CNET

When will I receive my first COLA increase payment?

If you receive SSI, you will receive a payment in December 30 with your new benefit amount. You will not see an increase with your December 1 payment because the COLA increase does not take effect until 2023. Since your first increased payment is scheduled for January 1 (a holiday and weekend), you are receiving your first payment of 2023 in advance.

What if I get SSI and Social Security benefits?

If you also receive Social Security benefits along with your SSI, you will only get your SSI increase in December. The increase in your Social Security benefits will begin on January 3, which falls on a Tuesday.

For more information, here it is How to apply for Social Security Disability Insurance. Also, here it is how to pause your social security benefits to potentially get a bigger payout later.

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