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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Calvin
I get $449 a month as it is and I’m totally disabled thinking about crawling on my stomach to become a greeter at Walmart twice if not three times as much as my government is giving me! Where is my help after paying taxes for 40 years? SMH!
Rebecca c.
Really 2.5%? That is nothing and a slap in the face to retired Americans. Inflation is out the roof.
Elizabeth
You need a good lawyer, Armenian one. They can show you how to milk the government, lie about your age, about your health, get benefit for your ‘sick’ family members, get housing assistance. You are set to live a good life, live up to the age of 102 or more. Collect free money (you have never worked for). And..all this done ‘”legally”
Rebecca B.
In reference to the very first one I read, Miss Sherry. No way in h… she or anyone can live off of that when rent, food, gas, etc. is soo high. One more thing, give her her rights back that she is entitled to but was taken away because of a felony. Come on people, our P O S president is a felon. DUH . All applications or forms should have that question or word removed. Is America so blind and ignorant to see what is going on. . Gosh, I must have been dreaming of making America great again, I missed it, how many felonies was it?
Robert Y.
I agree I bring home fair amount of Social Security but with the prices increasing I’m almost to the point where I will have to find another place to live right now I live by myself and drive a new car. The things are changing fast.
Marc A.
Just to clarify, Trump is not President yet and does not have any affect on the current COLA for this year, you can Thank the sitting POTUS and VICE POTUS for what’s going on.
Sherry P.
I’m a 57 year old female on SSI $943⁰⁰/month. My rent is $875⁰⁰. I also receive food stamps & not eligible for cash assistance, however, I’m curious when is the Government going to reassess the guidelines???
I talked to my local SSI office & was informed that it hasn’t been addressed since the 70’s…
Once my rent is paid, I have $90 for the month! How can I pay gas, water & electric with that??? Much less get household items. Not to mention I had to give up driving & having a phone now I have no way to get around.
I tried housing, senior living etc… Either I’m denied because of a felony (self defence) or I don’t qualify because of my age.
I hope this gets into the hands of someone who can help….
Puddin T.
Who the hell can live on 1100.00 a month? They automatically take their money out for insurance etc.. before we ever see it. They damn sure don’t give a s*** about Americans. They are so worried about what other countries think of us, in all reality not any other country likes us at all. So why are we still giving and giving to them?
I thought America Was! Strong Lol
Not anymore a bunch of P***ys running and ruining this Country
What a Joke!
Tammy M.
You’re so right 👍! What about us Americans? They the social security administration don’t give a shit about us, they automatically take out from us, our social security benefits is automatically deducted for Medicare insurance with out our permission or knowledge, what a bunch of bullshit! Leave our social security benefits ALONE and let us Americans make our own decision on our own medical insurance, not social security.
eight b.
social security was NEVER meant to be enough for you live on. have you ignored all warnings since you were entering the workforce that you need to provide additional money to saving for your old age? ever heard of an ira?
Brandon B.
7.25 an hour doesn’t leave much for an Ira. And yes federal minimum wage is still 7.25 in many states and that is what you get.
Mark F.
That will all change when Trump gets into office because he and Senators have been trying get at SS, so we all wait for the fall out! Then you can really complain.