The Social Security Administration on Thursday announced that the cost-of-living adjustment (COLA) for 2025 will be 2.5%, the lowest since 2021. Social Security retirement benefits, on average, will increase by roughly $50 per month starting in January, the agency said. "Social Security benefits...
"If that were the law today, the COLA in 2024 would be almost a percentage point higher —4%, versus the 3.2% just announced by the Social Security Administration," TSCL Social Security Policy Analyst Mary Johnson said. If you're looking to reduce your monthly expenses, you ...
The 2025 COLA will on average add about $50 to each monthly benefit check, the administrationsaid. The Social Security Administration announces its annual COLA each fall based on a metric known as the "Consumer Price Index for Urban Wage Earners and Clerical Workers," orCPI-W, which tracks t...
The Social Security cost-of-living adjustment aims to track inflation. Yet because those adjustments are made annually, they come with a lag, according to Laura Quinby, associate director of employee benefits and labor markets at the Center for Retirement Research at Boston College. A...
The Social Security Administration on Thursday announced that thecost-of-living adjustmentwill be 2.5% in 2025. When that increase goes into effect, it will be thelowest adjustmentto benefits that beneficiaries have seen since 2021, when the cost-of-living adjustment, or COLA, was 1.3%. ...
MANALAPAN, N.J., Nov. 06, 2024 (GLOBE NEWSWIRE) -- The Social Security Administration has approved a 2.5% Cost of Living Adjustment (COLA) for 2025, reflecting the moderate decrease in inflation rates compared to recent years. While ...
and Clerical Workers (CPI-W). We already have CPI-W data for July and August, but September's reading won't be available untilOctober 10. And it's on that date when the Social Security Administration intends to announce a number ofkey changesto the program -- COLA-related and otherwise...
The Social Security Administration’s annual cost-of-living adjustments (COLA) are designed to help Social Security and Supplemental Security Income (SSI) recipients retain their buying power amid rising inflation.
Seniors received a 3.2% COLA for the current year. How would that impact Social Security benefits? The average Social Security check for retirees stands at $1,907 in 2024,accordingto the Social Security Administration. If the agency announces a 2.5% COLA increase for 2025, as forecast, the...
The U.S.Social Security Administration (SSA)announces its annual changes to theSocial Securityprogram for the following year every October. The2025 changesconsist of a 2.5% cost-of-living adjustment (COLA) to the monthly benefit amount, an increase in the maximum earnings subject to the Social ...