Social Security Administration is expected to disclose cost-of-living adjustment for retired workers in mid-October.
The nation's more than 70 million Social Security recipients may want to temper their expectations of how much more they'll be getting in 2025. Retirees are looking at an average monthly bump of $48, or an increase of 2.5%, according to projections released on Wednesday.The 2025 cost-of-living adjustment, or COLA, which is based on the rate of inflation, is now forecast to come in below last month's 2.
2% received in 2024, it falls roughly within the bounds of the historical norm, which has averaged at about 2.6% over the past two decades. The COLA ran as low as 0.0% in 2010, 2011 and 2016, and as high as 8.7% in 2023. The Social Security Administration sets its yearly COLA based on inflation during the third quarter, or from July through September.
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