The 2.5 percent cost-of-living adjustment (COLA) will begin with benefits payable to nearly 68 million Social Security beneficiaries in January 2025. Increased payments to nearly 7.5 million SSI recipients will begin on December 31, 2024.

Cost-of-Living Adjustment (COLA): Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2023 through the third quarter of 2024, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 2.5 percent COLA for 2025.

The latest COLA is 2.5 percent for Social Security benefits and SSI payments. Social Security benefits will increase by 2.5 percent beginning with the December 2024 benefits, which are payable in January 2025.

Oct 10, 2024 · 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.

We call such increases Cost-Of-Living Adjustments, or COLAs. We determined a 2.5-percent COLA on October 10, 2024. We will announce the next COLA in October 2025. Social Security program information COLA History How the COLA is applied to Social Security retirement benefits Effect of the 2.5-percent COLA on average Social Security benefit amounts

Oct 10, 2024 · How much is the increase: Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase by 2.5% in 2025. This is the annual cost-of-living adjustment (COLA).

The 1976-83 COLAs were based on increases in the CPI-W from the first quarter of the prior year to the corresponding quarter of the current year in which the COLA became effective.

Oct 10, 2024 · Each year we announce the annual cost-of-living adjustment (COLA). Usually, there is an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month, starting the following January.

The purpose of the cost-of-living adjustment (COLA) is to ensure that the purchasing power of Social Security benefits and SSI payments is not eroded by inflation.

Nov 12, 2024 · If you receive Social Security benefits and have a personal my Social Security account – or you create an account by November 20, 2024 – you will receive your 2025 Cost-of-Living Adjustment (COLA) notice online.