The 3.1% estimate is based on the 12-month average rate of the inflation index the Social Security Administration uses to adjust benefits annually. That index, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) — a basket of goods and services typically bought by w...
There's a chance that 2025's Social Security COLA estimate will be revised upward next month, and that next year's raise ultimately comes in higher than the current 2.57% projection. But even if that happens, 2025's COLA most likely won't be enough to make it possible for beneficia...
Still, TSCL’s most recent COLA estimate is slightly higher than the group’s June estimate, when they predicted a 2.57% increase for 2025. But it’s still below the 3.2% increase afforded to Social Security recipients in 2024, and nowhere near the 8.7% and 5.9...
The Social Security Administration is expected to announce the COLA for 2025 on Thursday. In contrast, Social Security beneficiaries saw a 3.2% increase to benefits this year. In 2023 and 2022, beneficiaries saw the biggest boosts to benefits in four decades, with COLAs of 8.7% and 5.9...
Social Security 2023 COLA: How It Works by Cara Smith Read more Explore Social Security Get more smart money moves – straight to your inbox Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help yo...
What about 2025?Based on the latest projections, the Social Security COLA for 2025 is estimated to be around 2.6% to 2.7%. This more modest increase reflects the cooling inflation trend from the last couple of months or so. However, keep in mind this is just an estimate. The official Soc...
Every year the government administers acost-of-living adjustment (COLA)to help seniors' Social Security checks keep up with inflation. But it doesn't add the COLA to your take-home check. It adds it to your PIA. If you want to calcul...
Thepace of inflationis coming down, which continues to point to a lowerSocial Security cost-of-living adjustmentfor retirees and other beneficiaries in 2025. The Social Security cost-of-living adjustment, or COLA, may be 2.7% next year, according to an estimate from Mar...
In 2024, the maximum Social Security disability benefit for a disabled worker receivingSocial Security Disability Insurance (SSDI)is $3,822 per month, according to the Social Security Administration (SSA). That figure will rise in 2025 due to acost of living adjustment (COLA), as the SSA anno...
The COLA for Social Security benefits in 2025 is 2.5%. 1. Retirement Benefits For many Americans, the words “Social Security” are synonymous with retirement, the largest wing of the organization. Retirees and their dependents account for approximately 78% of total Social Security benefits paid....