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

The Social Security Administration (SSA) addresses widespread misinformation about a supposed $600 increase in Social Security benefits. This section delves deeper into the implications of these false claims and how they have affected the SSA and its beneficiaries.

There has been a false rumour confusing Social Security recipients. Some have claimed to receive a $600 payment increase or a new stimulus check this month.

These claims are incorrect and have led to over 463,000 calls in a single day to the SSA, reflecting the widespread impact of these false claims on recipients eager for accurate information.

Impact of SSI/SSDI Misinformation

Social Security-related scams are recognized as the top government imposter scam in the United States. According to the Federal Trade Commission (FTC), last year alone, consumers reported losses exceeding $126.5 million due to such scams. These fraudulent activities exploit the trust and urgency of individuals depending on Social Security benefits, illustrating the severe consequences of misinformation.

Clarification from the SSA

The SSA, led by Commissioner Martin O’Malley, has been clear in its communications to the public. “Reports of a $600 payment increase are FALSE. Please be aware and don’t fall for this stunt,” stated O’Malley. This message is part of the SSA’s broader effort to quell the misinformation and reassure beneficiaries that any legitimate updates about their benefits will be communicated directly from the agency.

Scheduled Payment Information

In light of recent confusion, it is also important to note the schedule for Social Security payments, which are typically structured around the recipient’s birth date:

• June 3: Payments for those who have received Social Security benefits since before May 1997.
• June 12: Payments for beneficiaries whose birthdays fall between the 1st and 10th of the month.
• June 18: Adjusted for the Juneteenth federal holiday, payments for those whose birthdays fall between the 11th and 20th.
• June 26: Payments for those whose birthdays are from the 21st to the end of the month.

These schedules are meticulously planned to ensure timely benefits delivery, reflecting the SSA’s commitment to reliability and consistency.

Future COLA Announcements

Looking ahead, the annual cost-of-living adjustment (COLA) for 2025 is set to be announced in October. While projections from The Senior Citizens League suggest a possible 2.57% increase, the final percentage will depend on inflation metrics from the year’s third quarter.

This adjustment, if confirmed, will be applied to benefits starting January 2025, continuing the SSA’s practice of automatically applying these increases without requiring additional information from beneficiaries.

Official Resources and Recommendations

Beneficiaries should directly consult the SSA’s Official Website for accurate information and updates regarding Social Security payments. Additionally, the SSA provides resources to help individuals recognize and report common Social Security scams.

The spread of false information regarding Social Security increases serves as a reminder of the importance of sourcing information directly from official channels like the SSA. By staying informed through reliable sources, beneficiaries can protect themselves from scams and ensure they are accurately updated about changes to their benefits.