Some people will receive their COLA social security payments of $1,657 in five days just as the payments are distributed depending on their birthdays.
Social security payments will be the first to incorporate the 5.9 percent cost of living adjustment (COLA) hike, which will be effective January 1, 2017.
Retired workers will enjoy an average $92 increase in their monthly payment, raising their total payout from $1,565 to $1,657.
Beneficiaries whose birthdays fall between the 1st and 10th of their birth month should expect to receive their monthly payments on the second Wednesday of the month unless otherwise specified.
As a result, some seniors will receive their first adjusted monthly check on January 12, while others will receive their first adjusted monthly check on January 13.
Those who were born in the middle of the month, between the 11th and the 20th, will receive their compensation on the 19th of the month.
Additionally, people born between January 20th and January 26th should anticipate checks on January 26th.
All year long, payments will be sent out on the second, third, and fourth Wednesdays of each month (excluding holidays).
The average monthly payment for married couples will increase from $2,599 to $2,753, representing a $154 increase.
Disabled employees will see a rise in their pay to $1,358 per month from $1,252 per month.
Around eight million people who receive Supplemental Security Income received an increase in their payments around December 30 of last year.
Read More: What You Need to Know About Cryptocurrency Filing With IRS
Social security recipients should have received a letter outlining the new cost-of-living adjustment (COLA).
Americans should wait three additional postal days before contacting the Social Security Administration if they do not receive their payment on the anticipated date.
The 5.9 percent increase represents the highest increase in the Consumer Price Index (CPI) in nearly 40 years. Benefits increased by only 1.3 percent in the previous year.
Benefits increased by 5.8 percent in 2009, but the subsequent years saw no change in the amount of money received.
The My Social Security website allows Americans to estimate how much they are likely to receive in Social Security benefits.
Some recipients have already expressed concern that the increase in payments will not be sufficient to cover the costs of inflation in the future.