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And the fact that the full-year CPI-W in 2024 increased more than the 2.5% COLA in 2025 is even worse news. It means Social Security will have a little less spending power this year. How retired ...
The lowest COLA in that timeframe was in 2016 at 0.0%, and the highest was in 2023, when COLA was a whopping 8.7%. The Social Security 2024 COLA increase was a lower 3.2%. Source: Social Security ...
But when the 2.5% COLA kicks in for the new year, the typical retired worker will see a $49 per-month lift in their payout to $1,976, or roughly $588 extra per year.
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.
Social Security benefits are adjusted annually to account for inflation in the previous year. For instance, retirees and other beneficiaries will receive a 2.5% cost-of-living adjustment (COLA) in ...
For example, if the COLA comes in at 2.5% and you're currently receiving $2,000 per month, you'd add another 2.5%, or $50 per month, to your checks in 2025. 2. December 2024: Beneficiaries receive ...
Image source: Getty Images. But when a given year's COLA isn't so generous, Social Security recipients can suffer. And unfortunately, based on recent inflation data, it's looking like 2025's ...
Social Security benefits received a 2.5% cost-of-living adjustment (COLA) in 2025, but for many retirees, this is not enough to keep up with rising prices. Their monthly checks don't go as far as ...