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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.
By now, all seniors on Social Security should have gotten their first checks for 2025. With the latest 2.5% cost-of-living adjustment (COLA) in effect, the average benefit has climbed to $1,976 ...
COLAs protect the buying power of Social Security by ensuring benefits increase at the same rate as inflation. ... The Senior Citizens League (TSCL), a nonprofit advocacy group, estimates benefits ...
Not surprisingly, a study published in July by nonpartisan senior advocacy group The Senior Citizens League found that the buying power of a Social Security dollar has declined by 20% since 2010 ...
Data source: Social Security Administration, The Senior Citizens League. Payments have been rounded to the nearest dollar. 2. Social Security's full retirement age will increase in 2025
A 2.5 percent increase would raise the average Social Security payment for retired workers from $1,920.48 (as of August 2024) to $1,968.49 in 2025, an increase of $48.01. You’ll notice the COLA ...