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In 2025, nearly 73 million Social Security and SSI recipients will see their benefits increase by 2.5%. That’s just under the 2.5% by which the average COLA boosted benefits over the last decade.
Social Security payments are a lifeline for millions of Americans, with an estimated 72.6 million people receiving some form of Social Security benefits in August 2024.
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.
Here's what Social Security's 2025 COLA means for your monthly benefit. Throughout the 2010s, beneficiaries had little to look forward to. ... from $1,513 to close out 2024 to an estimated $1,551 ...
That's a notch higher than a previous estimate of 2.57% but also well below the raise seniors received at the start of 2024. ... But we won't get an official 2025 Social Security COLA announcement ...
Source: Social Security Administration. The projected 2025 COLA for Social Security is 2.5%, according to an emailed September 11 TSCL press release, resulting in another drop.