$600 COLA Increase for Social Security Payment, SSA receives 463K calls in a day

$600 COLA Increase for Social Security Payment: The social security administration in USA is offering different payments on monthly basis to the Eligible senior citizens and other beneficiaries in the country. SSA is managing the monthly payment of the beneficiaries according to different factors, and also increase percentage of the Social Security Payment according to the inflation and other conditions in the country.

Recently citizens are receiving COLA increment news in SSA for 2024-25, which is claiming the increment for up to 600 USD. So if you are also looking to check fact of this news then can read this article where we will share with you the details of $600 COLA Increase for Social Security Payment including date of releasing the payment, official statement of SSA etc.

$600 COLA Increase for Social Security Payment 2024

Cost of living adjustment in USA is increased according to the rate of inflation in the country at different locations. It impacts on SSA payments of the beneficiaries in the country. The inflation is continuously increasing and people are also discussing about restructure of SSA payment, but any official agency have not informed about the increment of 600 USD for SSA beneficiaries in 2024.

But there are many news agencies and other social media platform which are circulating such news of increment in the Social Security Payment. So if you have also heard this news then you should not react on it and wait for the official announcement by SSA. However beneficiaries are also receiving increased payment in last months due to their pending status of the Social Security Payment. 

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Official notification on $600 COLA Increase for SSA Payment

The social security administration officials have informed on Twitter platform about the claim of 600 USD increment in SSA payment under the COLA increment. He told that security administration received more than 140000 calls in a single day from the beneficiaries who want to get an enquiry about increment of 600 USD payment. He told that the information of 600 USD increment in SSA payment is FAKE and many news stories are covering this fake information. 

Next COLA Increment in SSA 

The cost of living adjustment is increased according to the level of inflation in the country and different locations. Martin O’Malley from SSA have informed to the beneficiaries of social security administration schemes that authority is not releasing any COLA in this year until January 2025. So citizens in USA will see increment in their monthly payment in the next quarter. However the percentage of increment in COLA have not been inform about the authority but it is expected to increase at least 2.57% payment of the beneficiaries due to the inflation and increment in daily life grocery cost. 

Eligibility for Social Security Payment 2024

SSA is providing social security payment to senior citizens and disable citizens in the country where you need to qualify the following conditions before getting such payments on monthly basis: 

• Only citizens of USA who are living in the country from many years are eligible to apply for SSA running SSI or SSDI payments. 
• If you are a senior citizen and your age is more than 65 years old then you can apply under SSA payment 
• Citizens who have a specific disability have to register themselves for SSDI payments in SSA portal.
• These benefits are providing to the citizens who are paying the annual tax to the government before the deadline. So if you are claiming the SSA payment 2024 then you are required to pay the tax for the financial year of 2023 and 24. 
• Your annual income will impact on your monthly payments under the SSA scheme. So if beneficiaries are earning less than the low income group category will get 100% payment of the scheme. 

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SSA Payment Date September 2024

Social security administration have prepared a calendar of the upcoming payment of SSA for the year of 2024 and 25 on the official website. The payment for SSI which is prepared for senior citizens is released first day of a month. However, if the first day of a month is a holiday then beneficiary will receive the payment of upcoming month at the end of the last month. Apart from this beneficiaries who are getting payment under SSDI for different disabilities are receiving payments on different dates throughout the month according to their date of birth. The second, third and fourth Wednesday is scheduled for SSDI payments according to the date of birth of the individuals. 

If you born between 1 to 10 of a month then you will receive payment on the second Wednesday, third Wednesday schedule for those who born between 11 to 20 and the 4th Wednesday is schedule for those who born after 21. 

• 11th September is scheduled for those who born between 1 to 10 of a month 
• 18 September is scheduled for beneficiaries who born between 11 to 20 
• 25 September is scheduled for who born after 21. 

SSDI Payment Schedule 2024

You can check the following table for upcoming month schedule of SSDI payment in 2024