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SSA Announces 2.5% Cost-of-Living Adjustment for Social Security Benefits for 2025
On October 10, 2024, the Social Security Administration (SSA) announced a 2.5% cost-of-living adjustment (COLA) to benefits for 2025. The 2.5% COLA will begin in January 2025 with benefits payable to more than 68 million Social Security beneficiaries.
On average, Social Security benefits will increase by more than $50 per month starting in January 2025. Social Security COLAs are based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as determined by the Department of Labor’s Bureau of Labor Statistics (BLS).
Further information is available here.