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In 2025, nearly 73 million Social Security and SSI recipients will see their benefits increase by 2.5%. That’s just under the 2.5% by which the average COLA boosted benefits over the last decade.
Image source: Getty Images. 1. Social Security benefits are rising by 2.5%. Each year, Social Security benefits are eligible for an automatic cost-of-living adjustment, or COLA.
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.
The slight change on the Social Security Administration's calendar may not come as much of a surprise to those keeping a close eye on the administration's 2024 timetable, which lays out dates for ...
Jan. 3: People who claimed Social Security before May 1997 or who receive both Social Security and SSI will see their new 2025 COLA reflected when they receive their checks on this day. Jan. 8 ...
You might be eligible to receive SSI monthly payments even if you already receive Social Security Disability Insurance or retirement benefits. About 7.6 million people receive SSI benefits.
The slight change on the Social Security Administration's calendar may not come as much of a surprise to those keeping a close eye on the administration's 2024 timetable, which lays out dates for ...
That's considerably lower than the 3.2% raise seniors on Social Security received this past January. But again, inflation was also higher in late 2023 than it's been in recent months.