As retirees prepare for the coming year, understanding the schedule for Social Security payments is crucial for financial planning. Many seniors depend on these funds for their monthly expenses, and timely payments can greatly affect their financial stability. A recent study conducted by researchers at the Universities of Nebraska-Lincoln and Illinois at Urbana-Champaign highlights that anxiety regarding timely Social Security payments has increased, particularly in response to potential government budget cuts anticipated in 2025.
However, there is some positive news for Supplemental Security Income (SSI) recipients. The Social Security Administration (SSA) has announced that those receiving SSI will have their January 2026 benefits deposited a day early, on December 31, 2025. This adjustment is particularly beneficial since January 1 is a federal holiday, ensuring that payments are not delayed until January 2. Approximately 7.5 million individuals are expected to receive this early payment, which will include a 2.8% increase in benefits as part of the cost-of-living adjustment (COLA) for 2026.
While the early SSI payment offers reassurance, it is important to note that regular Social Security payments will not be affected by this change. Standard Social Security benefits are issued on specific Wednesdays based on birth dates, with those born between the 11th and 20th of the month set to receive their deposits on the third Wednesday. Because there are no regular Social Security payments scheduled for January 1, 2026, recipients will continue to receive their COLA-adjusted payments according to their designated timetable. With the anticipated COLA increase, the average Social Security benefit is expected to rise by approximately $56 per month, bringing the total to $2,071. Likewise, SSI beneficiaries will see an increase of $27, totaling $994 per month.
This early payment may bring peace of mind to many retirees as they navigate potential economic uncertainties, ensuring they have access to their benefits in a timely manner.