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The group’s latest COLA estimate is well below earlier estimates this year — estimates that projected a Social Security increase as high as 10.5% in 2023. However, even an increase of 8.7% ...
Based on Wednesday’s Consumer Price Index report from the U.S. Bureau of Labor Statistics — which showed inflation in June surging 9.1% from the previous year — the COLA for 2023 will be ...
With the projected 2.57% COLA, the average would rise to $1,965.89. In other words, the average retiree would get an additional $49.26 each month, or about $591 in additional retirement income per ...
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For example, the CPI-W average from Q3 2023 was 301.236. In Q3 2024, the average was 308.729. This roughly 2.49% increase is how we ended up with the 2.5% COLA for 2025.
The 2025 COLA is on track to break records for a simple reason. Expert projections suggest that retirees will receive at least a 2.7% increase and potentially a raise as high as 3.2%. This is ...
In 2023, seniors on Social Security saw their benefits rise by 8.7% as one of the most generous cost-of-living adjustments, or COLAs, arrived in the midst of soaring inflation.
With 2023 fast approaching, Social Security beneficiaries will soon get a definite answer on how much their monthly payments will go up next year based on the current quarter's inflation rate. For...