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A 2.5% raise isn't as terrible as it might seem. On Oct. 10, the Social Security Administration (SSA) dropped a bombshell by announcing that monthly benefits would be rising by 2.5% in 2025.
The vast majority of Social Security beneficiaries, roughly 75%, are retired workers who received an average monthly check of $1,920 as of August. That’s about $80 more than the year prior.
For the average worker with disabilities, their Social Security benefit is projected to rise by $38 per month, from $1,542 to end 2024 to $1,580 to begin the new year. Meanwhile, the average ...
In that scenario, the average retired worker would have received an extra $58 per month in 2025, or $696 for the full year. That means the COLA applied to Social Security benefits in 2025 will ...
It's not a given that you'll pay Social Security taxes on your entire salary. Each year, there's a wage cap put in place that determines how much income is taxed to fund the program. In 2025, that ...
Every October, the Social Security Administration (SSA) announces how much more seniors will receive from the government program the next year due to inflation. The COLA for 2025 will be 2.5% ...
When the 2025 COLA comes, it will be the first time since 1997 that retirees have been given a raise of 2.5% or higher for four consecutive years. Here are the Social Security raises seniors have ...
The Social Security Administration announced recently that seniors will get a 2.5% benefits increase for the 2025 year. That amounts to around $49 more in monthly benefits for the average retiree.