Understanding Social Security's 2025 COLA Impact for Retirees Aged 70
Monday, 23 September 2024, 01:48
Details on the 2025 COLA Increase
Social Security's 2025 Cost of Living Adjustment (COLA) is a vital consideration for beneficiaries. This adjustment is designed to support retirees by increasing their benefits, particularly for those at age 70. The increase will directly impact financial stability for many retirees.
Projected Benefits for Retirees at Age 70
- Average monthly benefit at age 70: $2,068
- 2025 COLA: 2.5%
- Expected additional amount: $51.70
This increase will provide a welcome boost for those who rely heavily on Social Security income.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.