Social Security Warning: Deadline Looms for Crucial Information – Act by November 20
According to The Sun , Social Security recipients must act quickly to avoid missing out on important information regarding their benefits for 2025. By November 20, recipients must sign up for a free online “My Social Security” account to access crucial details about their upcoming payments.
The Social Security Administration (SSA) recently confirmed a 2.5% cost-of-living adjustment (COLA) increase for 2025, marking the smallest increase in four years. Due to a dip in inflation, the increase is lower than in previous years, but it still helps retirees keep pace with living expenses. The increase will raise monthly benefits from $1,921 to $1,969, or $23,628 annually, up from $23,052 in 2024.
While the COLA increase is set, each recipient’s exact benefit will depend on their work history, earnings, and the age at which they start claiming benefits. The increase will be reflected in January 2025 payments.
However, recipients need to act by November 20 to take full advantage of the “My Social Security” account. This free service allows individuals to access their benefit details, view their COLA notice, and manage important services such as requesting a replacement Social Security card or viewing tax documents.
While having a “My Social Security” account is not required, it offers many benefits. Those who meet the November 20 deadline will be able to access their COLA notice in December, which will help with budgeting for the coming year. Paper notices will also be sent out in December for those who prefer physical copies.
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Social Security plays a crucial role in the financial security of older Americans. According to SSA data, nearly 90% of individuals over age 65 receive Social Security benefits, with these payments making up about 30% of their annual income. For many, Social Security is their primary source of income.
In addition to the COLA increase, new Social Security checks worth over $4,800 are set to be distributed soon. A $943 payment will also be automatically sent out this month to qualifying recipients.
