Social Security beneficiaries will soon experience a welcome change when benefits climb due to a cost-of-living adjustment.
Recipients will see a 2.5% cost-of-living adjustment in 2025, which is notably less than the 3.2% average COLA adjustment in 2024.
Recipients will see a 2.5% cost-of-living adjustment in 2025, which is notably less than the 3.2% average COLA adjustment in 2024. The increase is the lowest cost-of-living adjustment since January 2021 -- which was 1.3%.The raise is intended to help meet higher prices for food, fuel, and other goods and services. The average recipient will see an increase of about $50 per month, according to agency officials. Social Security recipients received a 3.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyEarnings limit for people reaching their “full” retirement age in 2025 will rise to $62,160.
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