Social Security Cost of Living Increase for 2025 is 2.5%

Posted On December 12, 2024 by admin

“Social Security Announces 2.5 Percent Benefit Increase for 2025.”

Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5 percent in 2025, the Social Security Administration announced today (Oct. 10, 2024). On average, Social Security retirement benefits will increase by about $50 per month starting in January…. The COLA was 3.2 percent in 2024 and 8.7% in 2023.

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 the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $176,100 from $168,600.

Information about Medicare changes for 2025 will be available at www.medicare.gov.