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This wasn't just an arbitrary date I picked to calculate a long-term average. 1975 was the first year when Social Security COLAs were based on Consumer Price Index (CPI) inflation data.
Data source: Social Security Administration. Table by author. You might have noticed the amount of the COLA was 0% in three years: 2009, 2010, and 2015.
Driven by stagflation and the energy crisis, 1980 was the single most impacted year, and due to double-digit inflation rates, it saw a record-breaking 14.3% COLA increase. During this period ...
Next month is going to be a big one for retirees, as the Social Security Administration (SSA) will announce the upcoming cost-of-living adjustment (COLA) for 2025.. The announcement is currently ...
Retirees will receive a 2.5% cost-of-living adjustment (COLA), the smallest in four years because inflation declined this year. The average Social Security benefit for retired workers in November ...
Type of Beneficiary. December 2024 Average (Includes COLA) November 2024 Average (Before COLA) Monthly Difference. Retired workers. $1,975.34. $1,925.46
Those years top the list, and 2024's 3.2% was high enough to make it into the top third. Seniors might feel costs are higher than reflected in the recent COLAs due to the way the adjustment is ...
But when a given year's COLA isn't so generous, Social Security recipients can suffer. And unfortunately, based on recent inflation data, it's looking like 2025's Social Security COLA will be a ...