NEW YORK (MJP) – The Social Security Administration has announced the 2025 benefit increase for more than 70 million Americans.
The administration announced Thursday that payments will go up 2.5% starting in January. That will amount to about $50 more a month.
For those who receive supplemental security income, they will start seeing more money in their checks as early as December 2024.
“Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool,” said Martin O’Malley, Commissioner of Social Security.
Also new for social security beneficiaries, the administration will send out improved COLA notices.
Officials say the notices will have simplified information that will provide clear dates and dollar amounts of benefits and deductions.
The cost-of-living adjustment was based on the Consumer Price Index from the third quarter of 2023 through the third quarter of 2024. The new COLA increase marks a drop from last year’s 3.2% raise.
