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The 2025 COLA of 2.5% is lower than the 3.4% received this year and well below the 8.7% received in 2023. However, it's nearly in line with the average annual Social Security benefits increase in ...
A 2.5% COLA translates to a monthly increase of $48.01. If the COLA were instead 3%, the monthly increase would be $57.61. Although a difference of $9.60 doesn't sound like a lot, an extra $115 ...
The Social Security COLA calculation uses data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) released by the Bureau of Labor Statistics at a specific point in ...
The percent increase then becomes the COLA in the following year. For instance, the CPI-W increased 2.5% in the third quarter of 2024, which means Social Security benefits will get a 2.5% COLA in ...
And the SSA needs that data to calculate a 2025 COLA. That said, you don't necessarily have to wait until October 10 to find out everything you need to know about 2025's Social Security COLA ...
The CPI-W for September is the only missing piece of information needed for SSA to calculate next year's adjustment. ... to pay the bills. If the COLA is 2.5%, the average retiree would receive ...