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Average Monthly Benefit for 2025. Retirement Benefits. ... by the amount of their increase. The 2025 COLA of 2.5% is lower than the 3.4% received this year and well below the 8.7% received in 2023 ...
Type of Beneficiary. December 2024 Average (Includes COLA) November 2024 Average (Before COLA) Monthly Difference. Retired workers. $1,975.34. $1,925.46
Here's the big picture: While the 2.5% COLA in 2025 is the smallest increase in Social Security benefits in four years -- 3.2% in 2024, 8.7% in 2023, and 5.9% in 2022 -- that means prices across ...
The most watched COLA update, of course, is the one that affects 67.7 million people, including roughly 53.2 million people age 65 and older. ... a 2.63% increase would put 2025's average monthly ...
Updated October 11, 2024 at 7:26 PM Lane V. Erickson/Getty Images The Social Security Administration set its 2025 cost-of-living adjustment at 2.5%, the smallest annual COLA hike since 2021.
How the 2025 COLA compares to recent adjustments. As of August 2024, the average Social Security recipient received a monthly benefit of $1,783.55. But the average retired worker did a bit better ...
Consider it like this: If the average retired worker benefit at age 70 is $2,068 per month, and Social Security's 2025 COLA is 2.5%, then the average 70 year old will receive an additional $51.70 ...
An estimated 96.7% of adults aged 60 to 89 receive Social Security. Although the average monthly benefit amount for retired workers was just $1,920 in August 2024, Social Security constitutes a ...