Social Security Announces 2.5 Percent Benefit Increase for 2025
Reading Time: 2 MinutesLast Updated: October 10, 2024
Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5% in 2025, the Social Security Administration announced today. On average, Social Security retirement benefits will increase by about $50 per month starting in January.
Over the last decade the cost-of-living adjustment (COLA) increase has averaged about 2.6%. The COLA was 3.2% in 2024.
Nearly 68 million Social Security beneficiaries will see a 2.5% COLA beginning in January 2025. Increased payments to nearly 7.5 million people receiving SSI will begin on December 31, 2024. (Note: Some people receive both Social Security benefits and SSI).
“Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool,” said Martin O’Malley, Commissioner of Social Security.
Some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $176,100 from $168,600.
Social Security begins notifying people about their new benefit amount by mail starting in early December.
This year, for the first time, Social Security beneficiaries will receive a newly designed and improved COLA notice that makes it easier for customers to find the information they need most. The simplified COLA notice is now only one page, uses plain and personalized language, and provides exact dates and dollar amounts of a person’s new benefit amount and any deductions. Learn more on our video.
Individuals who have a personal my Social Security account can view their COLA notice online, which is secure, easy, and faster than receiving a letter in the mail. People can set up text or email alerts when there is a new message–such as their COLA notice–waiting for them in my Social Security.
People will need to have a personal my Social Security account by Nov. 20 to see their COLA notice online. To get started, visit www.ssa.gov/myaccount.
Information about Medicare changes for 2025 will be available at www.medicare.gov. For Social Security beneficiaries enrolled in Medicare, the 2025 benefit amount will be available via my Social Security’s Message Center starting in late November. Those who have not opted to receive messages online will receive their COLA notice by mail in December.
The Social Security Act provides for how the COLA is calculated. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as determined by the Department of Labor’s Bureau of Labor Statistics.
To read more, please visit www.ssa.gov/cola.
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George V.
So I get to go backwards again this year. MY COLA is around 30% after cutting back.
Jim L.
If the cost of living this year o Lu increased by 2.5%, why do groceries cost 40% more; why does fuel cost 10-15% more; why are utilities 10% more; why is healthcare and drug cost expected to be 8.3%.
2.5% is a slap in the face and SSS is cooking the books!
Jan
I do not look forward to cost of living raises anymore because everyone around us raises our rent, utilities, food, general merchandise, everything, that goes even higher than our raise. So we really never get a cost of living raise..
Marilyn T.
If I’m signing up for my Social Security and one insurance from a different company, do I still need to put Medicare part B?
Thomas R.
That’s sad 2.5% the cost of living is so high people on social security can’t even afford to live but government doesn’t care about that
Annette R.
I get ssdi and that’s not enough to my bills get what o need for my home. I live in ohio
Angel S.
Tengo 78 anos y resivo ssi cuanto resivire en el 2025 y mi hijo resive ssdi tenra algunos cambios en el 2025?
david b.
my SSI is wrong it ,s $67900 and it shoot be $182.80 my social security is back woors and I keep tell them at the office and it still ant wrightit shoot be social security shoot be $679.00 and my SSI shoot be $182.80 please help me get it write thank you
T.Y.
Hi, David. Thanks for reading our blog. For your security, we do not have access to private information in this venue. To speak with a representative about your benefits, you can call us at 1-800-772-1213, Monday through Friday, 8:00 a.m. to 7:00 p.m. We hope this helps.
T.Y.
For information in Spanish, visit us at http://www.segurosocial.gov. On social media visit us at http://www.facebook.com/segurosocial, or http://www.twitter/segurosocial. Thanks!
Albert L.
Any increase in SS like $50 month about 2.5% in 2025 you have the car insurance every 6 month increases in Georgia that increase is almost $60 to $70 takes takes all your benefits .The Georgia Commissioner and the State representative allowing the Insurances to Rip off the public.
Jenna T.
I totally agree. Why is it we are the lowest paid people in America? They constàntly want to take take take never giving back. I think each and every person that makes decisions regarding our situation beings this isn’t welfare we paid into 40 yrs a little less or a little more, and get less than refugees who never paid a dime, but I believe each person involved should have to live on what they say we can for a period of 2 yrs before they are able to be a part of the ruling class. They cànt eat on 250 a month they do that at one time. We need to up their requirements just as they do ours.
Ronald A.
i couldn’t agree wiyh you more
Dave C.
Honestly I’d rather work then depend on the damn government, they think $1,008 is enough to live off of, i paid into this shit most my life and now cause of medical issues due to my life of manual labor I’m put on SSA where I don’t even get enough to live off, they need to pull their head out their ass and start using the freaking brain
Alan
Yes why don’t they try to live on1.050 month they bearly work we the tax payers pay for them