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Type of Beneficiary. December 2024 Average (Includes COLA) November 2024 Average (Before COLA) Monthly Difference. Retired workers. $1,975.34. $1,925.46
It's official: Social Security benefits will receive a 2.5% cost-of-living adjustment (COLA) in 2025, the smallest percent increase in payments since 2021. That means the average retired worker ...
For this reason, it is often referred to as the 2025 COLA. As of the latest available data (November), the average retired worker receives a monthly Social Security benefit of $1,925.46.
The full retirement age (FRA), the age at which retirees can claim their Social Security benefits, has been gradually increasing and will increase again in 2025. This year, those born in 1959 will ...
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 ...
At 2.5%, the 2025 COLA is below average and the lowest since the 1.3% COLA in 2021. The good news: The 2025 COLA could be lower. The could-be-better news: The 2025 COLA could also be higher.
In the early morning hours of Oct. 10, the SSA lifted the hood on the 2025 COLA, which offers something of a good news/bad news scenario for Social Security recipients in the upcoming year.
Some people receive both Social Security benefits and SSI. Jan. 8, 2025. This is when the first regular Social Security payments with the new COLA will be issued — the second Wednesday of the month.