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On Oct. 10, the Social Security Administration announced that benefits would be rising by 2.5%. That happens to be a much smaller COLA than what recipients have received in recent years.
The 2025 COLA of 2.5% is lower than the 3.4% received this year and well below the 8.7% received in 2023. However, it's nearly in line with the average annual Social Security benefits increase in ...
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The most watched COLA update, of course, is the one that affects 67.7 million people, including roughly 53.2 million people age 65 and older. ... Once you learn how to maximize your Social ...
Data source: Social Security Administration. As shown above, CPI-E inflation averaged 3.4% through the first eight months of 2024. That is three-tenths of a percent above the average CPI-W reading.
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
Retirees are almost assuredly going to get a smaller COLA In 2025 compared with the last few years, and seniors should start preparing now for that reality. With 2024 Half Over, Retirees Need to ...
An estimated 96.7% of adults aged 60 to 89 receive Social Security. Although the average monthly benefit amount for retired workers was just $1,920 in August 2024, Social Security constitutes a ...