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How the 2025 COLA compares to previous years. The 2.5% COLA is admittedly modest, but history shows it could be worse. ... Social Security Administration. Chart by author. For some perspective ...
Source: Social Security Administration. Since 2014, the average COLA has landed at 2.6%. In some ways, it's a good thing that these adjustments are much lower than they were decades ago.
It ranks as the 12th highest COLA since 2001 and sits just under the 2.58% average of the past 25 years. The table below, ranked from largest to smallest COLA, shows exactly how it stacks up. Rank
Last year, the COLA was 3.2%, thanks to the higher inflation rates that prevailed in the waning months of the pandemic. It’s also a huge change from 2023, which saw a COLA of 8.7%.
On Oct. 13, 2022, the Social Security Administration announced that the annual cost-of-living adjustment for Social Security benefits in 2023 would be 8.7%. While on the surface it may seem like...
In January of each year, Social Security recipients receive a cost of living adjustment (COLA) "to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits is not eroded by inflation. It is based on the percentage increase in the consumer price index for urban wage earners and clerical workers (CPI-W)".
COLA has varied widely over the past 10 years. 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 ...
The chart below shows how a 2.6% COLA would change the average monthly payout for different types of Social Security beneficiaries. All amounts are rounded to the nearest dollar. Beneficiary Type