THE COLA social security payments of $1,657 will arrive for some people in just five days as the payments go out based on birthdays.
These will be the first social security payments to include the 5.9 percent cost of living adjustment (COLA) bump.
Retired workers will see a boost of $92 on average, bringing their monthly benefit from $1,565 to $1,657.
Recipients whose birthday falls between the 1st and 10th of their birth month can expect to get their monthly benefits on the second Wednesday of every month.
This means some seniors will get their first adjusted monthly check on January 12.
Those born in the middle of the month, from the 11th to the 20th, will get their payments on January 19.
And those born from the 20th onward can expect checks on January 26.
Throughout the year, payments will be sent on the second, third, and fourth Wednesdays of each month.
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The average monthly payment for couples will rise from $2,599 to $2,753 – a jump of $154.
Disabled employees will see their check increase to $1,358 a month from $1,252.
Read our COLA live blog for the very latest news and updates…
Around eight million Supplemental Security Income recipients got their increased payment around December 30 last year.
Social security recipients should’ve already received a letter explaining the new COLA rise.
If Americans do not receive their payment on the expected date, they should wait three extra mailing days before contacting the Social Security Administration.
The 5.9 percent boost is the largest COLA increase in almost 40 years. Last year, benefits increased by only 1.3 percent.
Benefits increased by 5.8 percent in 2009, but in the following years, the adjustment was zero.
Americans can calculate how much they are likely to pocket via the My Social Security website.
Some recipients are already fearing that the rise in payments will not be able to cover the costs of inflation.