If you and your spouse are both 62 years or older and receiving Social Security retirement benefits, there’s good news. Starting in January 2025, payment amounts will increase thanks to the cost-of-living adjustment (COLA).
The average boost for individuals will be $49, raising the current $1,927 monthly payment to about $1,976. For married couples, the average payment will jump from $3,014 to $3,716. This increase is part of the Social Security Administration’s (SSA) annual update to keep up with inflation.
This change was confirmed in the SSA’s 2025 COLA Fact Sheet, providing a much-needed financial boost for retirees who depend on these payments.
When Will Retired Couples See These Payments?
Eligible couples can expect to see the updated payment amounts in January 2025. If you started receiving retirement benefits before May 1997, your first payment will arrive on January 3, 2025. Retirees receiving Supplemental Security Income (SSI) will also see payments on this date.
For others, the payout schedule depends on your birthdate:
- January 8: For birthdays between the 1st and 10th.
- January 15: For birthdays between the 11th and 20th.
- January 22: For birthdays between the 21st and 31st.
These scheduled dates ensure retirees receive their benefits according to the SSA’s structured calendar.
Why Are Social Security Payments Increasing?
The increase is due to the SSA’s COLA, which adjusts benefits based on inflation. For 2025, inflation rose by 2.5%, prompting this adjustment. COLA aims to ensure that retirees maintain their purchasing power as living costs rise.
However, despite these adjustments, retirees have experienced a significant decline in their buying power. According to the Senior Citizens League, Social Security beneficiaries have lost about 20% of their purchasing power since 2010. This means that while COLA helps, it often falls short of fully offsetting inflation’s impact.
The 2025 increase is a step in the right direction, but retirees must continue to navigate the challenges posed by rising costs.
Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates.
Archer Bannister is a journalist with 4 years of experience covering hard-hitting stories. Currently working with Mikeandjonpodcast, Archer specializes in delivering timely and in-depth updates on a variety of topics, including crime news, politics, and national issues affecting the USA. His expertise and dedication to delivering accurate, impactful news make him a trusted voice for audiences seeking to stay informed on critical topics.
