
Fact check: Is SSA introducing $600 check boost for beneficiaries in July? Here's all you need to know
Jun 28, 2025 12:06 AM IST
Multiple rumors regarding the impending monthly deposits sent by the Social Security Administration (SSA) suggest that beneficiaries might receive a $600 bonus in their outstanding payments for July. The notion was widely circulated by users on social networking sites such as TikTok and Facebook. Representational Image
Many online users have claimed that the SSA has approved a special $600 payment for beneficiaries starting in 2025. They further claim that such checks will be delivered in June of this year and are part of the administration's initiatives to help deal with the rising cost of living. Such 'bonus payments' were supposed to automatically show up in beneficiaries' bank accounts along with impending monthly payments.
Turns out, the case is a simple instance of misunderstanding since there has been no official notice or approval from the SSA to authorize the payment of an additional $600 to all beneficiaries. It appears many people have mistaken the annual Cost of Living Adjustment (COLA) payment as a monthly payment rather than an annual one. What is COLA and how is it calculated?
COLA is a monthly amount added to the payments of SSA beneficiaries to help citizens better deal with the rising cost of living. This is calculated using inflation figures from the Consumer Price Index for Urban Wage Earners and Clerical Workers. The amount is calculated by the SSA after reviewing inflation trends from July to September. The determined rate is revealed in October and is applicable from January of the coming year.
The COLA rate, as decided and revealed by the SSA in October 2024, is 2.5% for 2025. This roughly equals to an additional $50 per month for someone who receives $2,000 worth of benefits per month. This sum, as calculated over the period of a year, totals $600. These payments were initiated back in January of this year. Hence, the timing claimed by online users is completely false as well.
Fraudsters have made a haven out of this misunderstanding. Multiple vulnerable groups who rely on social service benefits as a means of survival have been duped into giving out their Social Security number, bank account information and Medicare IDs.
By Stuti Gupta
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


NDTV
4 hours ago
- NDTV
Viral Dubai Chocolate Pulled From Shelves Over Undeclared Allergens
A viral Dubai chocolate has been urgently recalled in Australia for failing to declare several allergens on its packaging properly. The product, labelled Choco Bliss, went viral on TikTok earlier this year for its sweet kadayif and pistachio filling. According to the Food Standards website, the chocolate may contain undeclared traces of pistachio, milk, sesame seeds, and wheat. These ingredients could pose serious risks to people with allergies. As a result, the product has been recalled from the regional market. 'Any consumers who have a pistachio, milk, sesame seed, or wheat allergy or intolerance may have a reaction if the product is consumed,' New York Post quoted the recall in a report on Friday. 'Consumers who have a pistachio, milk, sesame seed, or wheat allergy or intolerance should not consume this product,' the recall read. View this post on Instagram A post shared by Brisbane Food / Events & More (@brisbanefood) The recall applies to all Dubai chocolates with expiry dates up to and including January 2026. Shoppers will be able to return the recalled Dubai chocolate to the place of purchase for a full refund, according to The recall notice also warned that anyone concerned about their health should seek medical advice. The Dubai chocolate bar is a creamy, crunchy treat that has gone viral, particularly among TikTok users. It features crispy kadayif (shredded phyllo dough), rich pistachio cream, and smooth milk or dark chocolate. Inspired by Middle Eastern desserts, it blends textures and flavours and has been around since 2021. According to the brand's Instagram page, the viral Dubai chocolate bar is sold through the brand's own retail outlets in at least five locations across Queensland: Westfield North Lakes, Westfield Chermside, Westfield Mt Gravatt, Westfield Carindale, and Indooroopilly Shopping Centre. It's also available at other retail outlets and can be ordered through Uber Eats and various online platforms. According to some reports, the Dubai chocolate bar is priced at around 49.50 AED (Emirati Dirhams), which is equivalent to over Rs 1,000.


Time of India
7 hours ago
- Time of India
US retirement age hits 67 by 2026: Early retirees to lose up to 30% in benefits- what it means for social security income
Representative image T he full retirement age (FRA) for Social Security benefits in the United States will increase to 67 starting in 2026, affecting millions of Americans planning their retirement. Those opting to retire early at age 62 could see up to a 30 per cent reduction in monthly benefits. The change stems from reforms signed into law by former President Ronald Reagan in 1983 to address long-term financial challenges facing the Social Security system. The original Social Security Act, introduced by President Franklin D. Roosevelt in 1935, initially set the retirement age at 65. The FRA has been rising gradually since 1991, increasing by two months per year. It reached 66 in 1996 and will reach 67 in 2026 for individuals turning 65 that year and beyond. Why the retirement age is increasing When the social security act was created, life expectancy in the US was just 61. By 1983, it had risen to over 74, and today it stands at 79. At the same time, the number of workers supporting each retiree has dropped, from 8.6 in 1955 to 2.8 in 2013, placing greater pressure on the system. The 1983 amendment was designed to address these demographic shifts and extend the program's solvency. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like ¡Todo a tu favor con Orange! Orange Undo Many Americans claim benefits at age 62 due to financial need, health issues, or concerns about future cuts. However, doing so results in permanently reduced monthly payments. According to the Social Security Administration (SSA), claiming benefits at 62 can result in up to a 30 per cent decrease, while delaying retirement until age 70 can significantly increase monthly payouts. A recent report from the Social Security Board of Trustees warns that the Social Security Trust Funds will have enough revenue to pay full benefits only until 2034. After that, without Congressional action, only 81 per cent of scheduled benefits would be payable. This could reduce the average monthly cheque from $1,976 to about $1,600. In 2024, trust fund reserves fell by $67 billion to $2.72 trillion, as program costs continued to exceed income. The funds have been running a deficit since 2010, raising concerns about the long-term sustainability of social security. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now


Economic Times
7 hours ago
- Economic Times
Singapore International Arbitration Centre rules in favour of Amazon in Future Group case
Amazon claim trimmed Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Singapore International Arbitration Centre (SIAC) has ruled in favour of Amazon in its long-standing legal battle with Kishore Biyani-led Future Group , holding that Reliance Retail- Future merger deal breached its pre-existing contract. However, Amazon has managed to get minuscule damages of Rs 23.7 crore against claimed amount of Rs 1436 a final award issued late Thursday night, the three-member tribunal said the 2020 board resolution by Future Retail Ltd (FRL) approving the sale of its retail, wholesale, and logistics assets to Reliance was in breach of contractual obligations under the Shareholders' Agreement (SHA) and Share Subscription Agreement (SSA) signed between Amazon and Future Coupons Pvt Ltd (FCPL).While Amazon had sought damages of Rs 1,436 crore, the tribunal awarded a significantly smaller sum of Rs 23.7 crore. It directed 11 promoters and parties, including Kishore Biyani , to jointly and severally pay the amount, along with interest at 10.3% annually (compounded) from March 9, 2022, until full payment. The parties are also liable to bear Amazon's arbitration and litigation tribunal noted that 835 of FRL's 1,534 retail stores were transferred in a manner that breached Amazon's contractual rights stemming from its 2019 acquisition of 49% in FCPL for Rs 1,400 crore. FCPL held a 10% stake in Tribunal held that Amazon was entitled to damages due to the promoters' repudiatory breaches of the Future Coupons Pvt Ltd (FCPL) Shareholders' Agreement (SHA), but it rejected the quantum of Rs 1,436 crore claimed by the had based its claim on "reliance loss," arguing that it should be compensated for the full value of its 2019 investment in FCPL including Rs 1,430 crore paid under the Share Subscription Agreement and Rs 5 crore in associated the Tribunal found that even if all contractual agreements had been fully performed, Amazon would not have recovered its entire investment due to the declining financial condition of Future Retail Ltd (FRL) the ultimate beneficiary of Amazon's stake in the impact of the COVID-19 pandemic and FRL's deteriorating business value, the Tribunal observed that awarding full damages would unfairly shield Amazon from a commercial loss it was likely to incur regardless.'Such an award would essentially allow Amazon to escape a bad bargain,' the final award the Tribunal awarded Amazon total legal and related costs of Rs 77.3 crore and SGD 68, Amazon-Future legal dispute began in October 2020, when SIAC's emergency arbitrator restrained Future Retail from proceeding with the Reliance deal. The Future Group had challenged the arbitration, citing the Competition Commission of India's 2022 suspension of the Amazon-FCPL deal.