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With inflation improving, the nonpartisan Senior Citizens League (TSCL) projects the Social Security COLA for 2025 at 2.5% as of September, revised from its higher prediction of 2.57% in August.
What would the 2025 Social Security COLA be using the R-CPI-E? Instead of a 2.5% increase, the COLA would be 3%. The average retired worker's monthly Social Security benefit in August 2024 was ...
In 2023, seniors on Social Security received a whopping 8.7% COLA-- the largest to arrive in decades. But this year's COLA was a relative disappointment at just 3.2%. A person holding a document ...
Social Security's full retirement age will increase in 2025. Social Security's full retirement age ... as detailed in the chart below. Birth Year. Full Retirement Age (FRA) 1943-1954. 66. 1955. 66 ...
As for what this means in more relatable terms, in that this year's average monthly Social Security payment stands at $1,907, a 2.63% increase would put 2025's average monthly benefit somewhere ...
Currently, Social Security benefits are projected to increase by 2.6% to 2.7%. However, I predict the actual 2025 Social Security COLA will be higher than current projections. Here's why.
Data Source: Social Security Administration. Table by author. As you can see above, COLAs have cooled off since the elevated inflation of the late 1970s and early 1980s, meaning the 2.5% increase ...
Data source: Social Security Administration. As shown above, CPI-E inflation averaged 3.4% through the first eight months of 2024. That is three-tenths of a percent above the average CPI-W reading.