The 2025 Social Security COLA Was Announced Last Month. Here's What That Means for Retirees
But a 2.5% COLA for 2025 stings because it's the smallest one to arrive in years. At the start of 2024, seniors on Social Security saw their benefits increase by 3.2%. And the year prior, Social Security recipients got a record-breaking 8.7% COLA. So a raise of just 2.5% seems awfully meager by comparison.
When Are December 2024 Social Security Payments Coming?
Anyone born between the 21st and 31st of any month will have their benefits paid on December 27. January payments for SSI and Social Security for those who have been claiming since before July 1997 will be made on December 29 as January 1 is a holiday.
Social Security: New legislation would increase monthly benefits for 2.5M Americans
Last week, the U.S. House of Representatives overwhelmingly passed the Social Security Fairness Act, a bipartisan piece of legislation that would increase benefits for roughly 2.5 million Americans who are currently penalized for their pensions.
Working and Collecting a Social Security Benefit? Big Changes Are On the Way in 2025.
Social Security's cost-of-living adjustment (COLA) isn't the only notable change to America's top retirement program in 2025.
Social Security benefits to increase 2.5% in 2025
Social Security beneficiaries will see a 2.5% increase in their benefits starting in 2025. This cost-of-living adjustment (COLA) is the lowest since January 2021, which saw a 1.3% adjustment. The average recipient will see an increase of about $50 per month.
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No, the president cannot change Social Security
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Senate has 6 weeks to vote to lift Social Security for public workers. Will it?
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Martin O'Malley, former Maryland governor, to run for DNC chair, resigns from Social Security Administration
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73% of workers worry Social Security won't be able to pay retirement benefits. Here's what advisors say
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House Passes $196 Billion Social Security Bill: Will Repealing Pension Reductions Shorten The Program's Lifespan?
On Nov. 12, the U.S. House of Representatives passed the Social Security Fairness Act, a bipartisan bill set in motion to ...