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Social Security recipients will get their final payment of 2023 next week, marking the end of this year's 8.7% cost-of-living adjustment (COLA). The 2023 COLA was the highest in more than four ...
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.
As noted by CBS, the last time Social Security saw this kind of increase was back in 1981 when the SSA announced a COLA of 11.2%. ... the new payment amount will start in January 2023, ...
Data Source: Social Security Administration. Table by author. As you can see above, COLAs have cooled off since the elevated inflation of the late 1970s and early 1980s, meaning the 2.5% increase ...
With the increase, the average Social Security monthly benefit check will rise by about $50. The COLA for 2025 is the second straight year of more normal annual adjustments, following large ...
Social Security averages the CPI-W data for July, August, and September and compares it to the previous year's number. If the number is higher than the previous year's, the increase becomes the COLA.
Social Security benefits are only going up by 2.5% in 2025. And that 2.5% COLA is certainly a mixed bag. But chances are, 2025 won't be the only year with a disappointing Social Security COLA that ...
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