What September's Social Security payment update means for you

Social Security payments change each September because of a yearly adjustment called the Cost-of-Living Adjustment (COLA). This adjustment raises the amount you receive each month to account for inflation — the rising cost of food, housing, and other expenses. The September payment you receive reflects this new, higher amount going forward.

The exact increase varies year to year. It depends on how much prices rose between July of the previous year and July of the current year, measured by the Consumer Price Index. Some years the adjustment is larger; some years it is smaller. The Social Security Administration announces the new amount in October, but the higher payment itself arrives in September for most recipients.

If you receive Social Security retirement, disability (SSDI), or survivor benefits, this adjustment applies to you automatically — you do not need to do anything to receive it. The new amount will straightforward appear in your bank account or on your check.

Key Takeaways

  • The September payment increase is the yearly Cost-of-Living Adjustment, which raises benefits to match inflation.
  • The exact percentage increase is announced in October but takes effect in the September payment.
  • The adjustment happens automatically for all Social Security recipients; you do not need to request it.
  • Your Medicare premiums may also change in September or October, which can offset part of your benefit increase.
  • You can check your new benefit amount by logging into your my Social Security account online or calling 1-800-772-1213.

When the new amount hits your account

Most Social Security recipients receive their payment on the same day each month, based on their birth date. If you were born between the 1st and 10th of any month, you receive payment on the second Wednesday. If you were born between the 11th and 20th, you receive it on the third Wednesday. If you were born between the 21st and 31st, you receive it on the fourth Wednesday.

The September payment — the one with the new COLA amount — follows this same schedule. So if your regular payment day is the second Wednesday of the month, you will see the increased amount on the second Wednesday of September. The adjustment does not arrive on a special date; it straightforward replaces your usual payment with a higher one.

If you receive your payment by direct deposit to a bank account, the money arrives the same way it always does. If you receive a check, the check will be for the new, higher amount. If you use a representative payee (someone who receives the payment on your behalf), that person will see the increase in whatever account or method they use.

How to find out your new benefit amount

The Social Security Administration publishes the new COLA percentage in mid-October each year. Once you know the percentage, you can calculate your new amount by multiplying your current benefit by that percentage and adding it to what you currently receive. However, the easiest way to see your exact new amount is to check your my Social Security account online.

To access your account, go to ssa.gov and click "Sign In" at the top right. You will need to create a login if you do not already have one. Once you are logged in, your benefit statement shows your current monthly payment amount. After the COLA takes effect in September, this page updates to show your new amount.

You can also call the Social Security Administration at 1-800-772-1213 to ask about your new benefit amount. Representatives are available Monday through Friday, 7 a.m. to 7 p.m. Eastern time. Have your Social Security number ready when you call.

Medicare premium changes that may offset your increase

If you receive Medicare along with Social Security, your Medicare Part B and Part D premiums may change in September or October as well. Part B covers doctor visits and outpatient care; Part D covers prescription drugs. These premiums are deducted directly from your Social Security payment before the money reaches your bank account.

In some years, the increase in your Social Security benefit is larger than the increase in your Medicare premiums, so your net payment goes up. In other years, the premium increase is steep enough that your take-home payment barely rises or even stays the same. This is why your September payment might be higher than you expected based on the COLA percentage alone.

The Centers for Medicare and Medicaid Services announces the new Medicare premiums in September. You will receive a notice in the mail explaining the change. If you believe the new premium is incorrect or if you want to switch your Part D plan, you have until December 31 to make changes that take effect the following January.

What happens if you work and receive Social Security

If you are under full retirement age and you work, Social Security reduces your benefit by $1 for every $2 you earn above a certain limit. This limit changes each year. The COLA adjustment applies to your benefit amount before this reduction is calculated, so the adjustment still helps you even if you are subject to the earnings limit.

Once you reach full retirement age, the earnings limit no longer applies, and you receive your full benefit amount plus the COLA adjustment. The month you reach full retirement age, Social Security recalculates your benefit to account for any months in which your benefit was reduced due to earnings.

Checking your payment history and earnings record

Your my Social Security account also shows your complete earnings history — the record of wages you paid Social Security taxes on throughout your working life. This history is what your benefit amount is based on. You should review it once a year to make sure it is accurate, because errors in your earnings record can lower your benefit.

If you spot an error — a year where you earned more than the record shows, or a year listed twice — contact Social Security right away. You will need to provide documents like tax returns or W-2 forms to prove the correct amount. Social Security can correct errors going back three years, three months, and 15 days from the date you report them.

Understanding the COLA calculation

The Cost-of-Living Adjustment is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which measures the average change in prices that working people pay for goods and services. The Social Security Administration compares the average CPI-W for July of the previous year to the average for July of the current year. If prices went up, the COLA is positive. If prices went down (which is rare), the COLA would be zero — benefits do not decrease.

The COLA is the same percentage for all Social Security recipients. A person receiving $1,500 per month and a person receiving $3,000 per month both receive the same percentage increase, so the person with the higher benefit receives a larger dollar increase.

Congress does not vote on the COLA each year; it is calculated automatically by a formula set in law. This means the adjustment happens whether Congress is in session or not, and it applies to all beneficiaries at the same time.

Frequently Asked Questions

Can I get my September payment early if I need the money sooner?

No. Social Security payments are issued on a fixed schedule based on your birth date, and you cannot request an early payment. If you are facing a financial emergency, you may want to contact a local community action agency or nonprofit that offers emergency information, but Social Security itself cannot accelerate your payment.

What if I did not receive my September payment on the expected date?

Contact Social Security at 1-800-772-1213 to report the missing payment. Have your bank account information or check number ready. If you receive direct deposit, the payment may have been delayed by your bank; contact your bank as well. Social Security can investigate and reissue the payment if it was lost.

Does the COLA increase explore to Supplemental Security Income (SSI) as well?

SSI is a different program from Social Security retirement and disability benefits. SSI has its own federal benefit rate, which also increases each year based on the COLA. However, SSI is means-tested, meaning your benefit can be reduced if you have other income or resources. The COLA applies to the federal rate, but your actual payment depends on your state and your other income.

If I am receiving benefits as a spouse or survivor, do I get the COLA increase too?

Yes. Spousal benefits, ex-spousal benefits, and survivor benefits all receive the same COLA adjustment as retirement benefits. The percentage increase is the same for everyone, though the dollar amount depends on what you are currently receiving.

How do I know if the COLA amount shown in my account is correct?

Once the Social Security Administration announces the COLA percentage in October, you can verify the math yourself. Multiply your previous benefit amount by the COLA percentage, then add that to your previous amount. The result should match what you see in your my Social Security account. If it does not match, contact Social Security to ask about the difference.