{"id":51943,"date":"2024-11-15T20:44:43","date_gmt":"2024-11-16T01:44:43","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=51943"},"modified":"2024-11-15T20:44:48","modified_gmt":"2024-11-16T01:44:48","slug":"2025-cola-increase-approaching-social-security-new-increase-confirms-payment-date","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2024\/11\/15\/2025-cola-increase-approaching-social-security-new-increase-confirms-payment-date\/","title":{"rendered":"2025 COLA increase approaching \u2013 Social Security New Increase Confirms Payment Date"},"content":{"rendered":"\n

Millions of Americans on Social Security need the 2025 COLA to make up for the inflation and soaring prices, check the exact dates<\/h2>\n\n\n\n
\"2025<\/figure>\n\n\n\n

2025 COLA increase in December, Social Security confirms it<\/p>\n\n\n\n

The 2025 COLA increase<\/strong> will boost benefits by about 2.5%<\/strong>. However, this Cost-of-living adjustment increase<\/strong> will not take effect until December 31, 2024<\/strong>, for some, while others need to wait until January 2025.<\/p>\n\n\n\n

If you qualify for your January 1 payment scheduled for December 31, 2024, is because you are a recipient of the Supplemental Security Income<\/strong>. The good news is that you will receive the COLA increase<\/strong> before retirees and SSDI recipients. If you are an SSI recipient<\/strong>, there is some bad news though.<\/p>\n\n\n\n

SSI, Social Security recipients get COLA on different dates<\/h2>\n\n\n\n

If you receive Supplemental Security Income your boost will be 2.5% too on December 31. Nevertheless, since the maximum SSI<\/strong> amounts and average payments are lower, you will not get the average 50 dollars<\/strong> extra retirees get.<\/p>\n\n\n\n

This will be the only downside, but eligible recipients can get up to $967 after COLA<\/strong>. This will be the new maximum amount for SSI, up from $943. Eligible married couples will be able to get up to $1,450, up from $1,415.<\/p>\n\n\n\n

An essential person will get up to $484, up from $472. The dates for retirees and SSDI recipients to get the 2025 cost-of-living adjustment <\/strong>increase will be:<\/p>\n\n\n\n

    \n
  • Cost-of-living adjustment on January 3<\/strong><\/li>\n\n\n\n
  • Cost-of-living adjustment on January 8<\/strong><\/li>\n\n\n\n
  • Cost-of-living adjustment on January 15<\/strong><\/li>\n\n\n\n
  • Cost-of-living adjustment on January 22<\/strong><\/li>\n<\/ul>\n\n\n\n

    How does the 2025 COLA increase compare to previous years?<\/h2>\n\n\n\n

    The 2025 cost-of-living adjustment (COLA) for Social Security benefits will be 2.5%, which is lower compared to the increases in recent years. In 2023, the COLA was 8.7%, and in 2024 it was 3.4%.<\/p>\n\n\n\n

      \n
    • The 2.5% COLA for 2025 will result in an average monthly benefit increase of around $48, raising the average payment to nearly $1,920.<\/li>\n\n\n\n
    • The 2025 COLA is lower than recent years\u2019 increases. But, it is higher than historic trends, especially during the Great Recession when inflation was low.<\/li>\n\n\n\n
    • COLAs help Social Security recipients keep up with rising prices for essentials like food and housing. They have been automatic since 1972.<\/li>\n\n\n\n
    • Some seniors and experts argue that the 2.5% COLA is too low. It doesn\u2019t reflect the inflation retirees face, especially in healthcare and housing costs.<\/li>\n\n\n\n
    • Social Security is the main income for 40% of older Americans. So, COLAs are vital for an inflation-proof retirement income.<\/li>\n<\/ul>\n\n\n\n

      Eligibility for Social Security COLA in January 2025<\/h2>\n\n\n\n

      For your information, you will receive the cost of living adjustment increase on January 3, 2025<\/strong>, if you began receiving Social Security before May 1997. Or if you are receiving SSI and Social Security simultaneously.<\/p>\n\n\n\n

      COLA will be included in your January 8 payment<\/strong> if you do not qualify for the payment on the 3 and you meet the birthday requirement (born from 1-10). Of course, all these January payments require having file for retirement or SSDI.<\/p>\n\n\n\n

      Americans on Social Security born from 11-20 will get the COLA increase on January 15.<\/strong> It will be on January 22 if your birthday falls from 21-31. On average, Social Security will give about $49 dollars extra to retirees.<\/p>\n\n\n\n

        \n
      • Source:<\/li>\n\n\n\n
      • https:\/\/www.ssa.gov\/news\/press\/factsheets\/colafacts2025.pdf<\/li>\n\n\n\n
      • https:\/\/www.ssa.gov\/pubs\/EN-05-10031-2025.pdf<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        Millions of Americans on Social Security need the 2025 COLA to make up for the inflation and soaring prices, check the exact dates 2025 COLA increase in December, Social Security… <\/p>\n","protected":false},"author":2,"featured_media":51944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"9","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2,"attached_media":[{"id":51944,"url":"https:\/\/lakelandgazette.info\/news\/wp-content\/uploads\/2024\/11\/Screenshot-69-12-png.webp","type":"image\/png"}]},"_wpas_customize_per_network":false},"categories":[9],"tags":[10348],"class_list":["post-51943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-2025-cola-increase-approaching-social-security-new-increase-confirms-payment-date"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/51943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=51943"}],"version-history":[{"count":1,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/51943\/revisions"}],"predecessor-version":[{"id":51945,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/51943\/revisions\/51945"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/51944"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=51943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=51943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=51943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}