In 2025, Social Security benefits and Supplemental Security Income (SSI) payments will increase by 2.5% for over 72.5 million Americans. This translates to an average increase of about $50 per month for Social Security retirement benefits starting in January, with nearly 68 million beneficiaries receiving this cost-of-living adjustment (COLA). Additionally, approximately 7.5 million SSI recipients will see increased payments beginning December 31, 2024. The average COLA increase over the past decade has been around 2.6%, with a 3.2% adjustment in 2024.
Starting in early December, the Social Security Administration will notify bene-ficiaries of their new benefit amounts by mail. This year, a newly designed COLA notice will provide clearer information, and those with a “my Social Security” account can view their COLA notice online.
For more details, beneficiaries can visit the Social Security website. Information regarding Medicare changes for 2025 will also be available online by visiting www.ssa.gov.
Source: Social Security Matters
