Social Security’s Final Check of the Year Arrives Just in Time – Here’s What You Need to Know

As the year draws to a close, millions of Americans eagerly await their last Social Security check of the year. For many, this payment is critical for managing holiday expenses, year-end bills, and daily essentials. Knowing when your payment will arrive and what changes to expect can help you plan wisely and avoid surprises.

Let’s walk through everything you need to know to stay fully prepared.

Schedule

Here’s a quick overview of the key details:

Understanding your payment schedule and upcoming adjustments can make a huge difference in your financial stability heading into the new year.

Payment

The Social Security Administration (SSA) uses a set schedule based on your birth date:

• Birthdays 1st–10th: Payment on the second Wednesday
• Birthdays 11th–20th: Payment on the third Wednesday
• Birthdays 21st–31st: Payment on the fourth Wednesday

For example, if your birthday is on December 15, you will receive your payment on the third Wednesday of the month, which is December 18 in 2025.

Important: If holidays like Christmas fall close to your payment date, banks might process deposits a day earlier. Always check your bank’s processing schedules to be sure.

Knowing when your payment hits your account helps you plan bills, shopping, and other year-end expenses without stress.

COLA

Starting in January 2025, Social Security recipients will enjoy a 2.5% Cost-of-Living Adjustment (COLA). This adjustment helps benefits keep up with inflation and rising costs.

Here’s how the new payments will look:

• Supplemental Security Income (SSI): Rising from $943 to $967 monthly
• Full Retirement Age Benefits (67): Increasing to $4,043 monthly
• Delayed Retirement Benefits (70): Climbing to $5,108 monthly

Even a modest increase matters. For someone receiving $2,000 a month, the COLA adds about $50 monthly, giving an extra $600 over the year. That extra cash can help cover essentials like groceries, utilities, or medication.

Pro tip: Check your new benefit amount early through your my Social Security account to plan your budget more accurately.

Taxes

Many people do not realize that Social Security benefits can be taxable depending on your total income and filing status.

Here is how it works:

• Single Filers: If your combined income exceeds $25,000, up to 50% of benefits could be taxable. Over $34,000, up to 85% could be taxable.
• Joint Filers: For couples, the thresholds are $32,000 and $44,000.

Combined income is calculated as:

Adjusted Gross Income + Nontaxable Interest + 50% of Social Security Benefits

For example:

• AGI: $20,000
• Nontaxable Interest: $2,000
• 50% of Social Security Benefits: $6,000

Combined Income = $28,000

Since $28,000 exceeds $25,000, a portion of benefits will be taxable for a single filer.

Using the IRS Interactive Tax Assistant online can quickly show you whether your benefits are taxable.

Managing taxes well includes options like:

• Withholding taxes directly from your Social Security checks (Form W-4V)
• Working with a tax professional for personalized advice

Receiving

Here are ways to make sure you receive your year-end payment smoothly:

• Enroll in direct deposit to ensure faster, safer payments.
• Update personal information, like banking details and addresses, with the SSA to avoid delays.
• Plan for holiday bank closures by checking with your financial institution.

If your payment does not arrive on time, contact the SSA promptly at 1-800-772-1213 to resolve any issues.

Also, be alert to scams. The SSA will never ask for personal information through email or unsolicited phone calls.

The last Social Security check of the year is more than just a deposit; it is a crucial part of your financial well-being. By staying informed and organized, you can head into the new year with peace of mind.

FAQs