Social Security Recipients to See $600 Annual Increase with 2025 COLA
According to Vibes.okdiario, The Social Security Administration (SSA) has announced the 2025 Cost-of-Living Adjustment (COLA) for retirees, Supplemental Security Income (SSI), and Social Security Disability Insurance (SSDI) recipients. This year’s adjustment will result in a 2.5% increase in benefits, a slight decrease from the 3.2% increase provided in 2024.
Monthly Benefit Increases
For retirees receiving Social Security benefits, the new COLA means an additional $50 per month. However, SSI recipients, who have a lower maximum payment, will only see an increase of $23 per month, totaling $276 annually.
Who Will Receive $600 Extra Per Year?
Retirees benefiting from the $50 monthly increase will accumulate $600 extra over the year. For example, if your current monthly benefit is $1,920—the average for Social Security retirees—you will see this rise to $1,968 per month. This increase can significantly impact low-income retirees. However, those with lower monthly payments may see a smaller boost; for instance, retirees with a monthly payment of $900 will only gain an additional $22.50 per month from the 2025 COLA.
Also read: “November SSI Payment: Up to $943 Arriving on November 1 with SNAP Benefits for Eligible States”
When Will Social Security Send the 2025 COLA Increase?
The 2025 COLA will take effect on January 3, 8, 15, or 22, 2025, for retirees, meaning that no increases will be included in the payments made in October, November, or December of this year.
SSI Recipients to See Early COLA Boost
In contrast, SSI recipients will receive the 2.5% COLA boost in 2024. Their January payment will be issued on December 31, as January 1 falls on a holiday. The SSA schedules SSI payments to avoid weekends and federal holidays, allowing these beneficiaries to enjoy the COLA increase a month early.
