What to Expect in the 2025 Social Security Raise for Seniors
Saturday, 13 April 2024, 14:00
What to Expect in the 2025 Social Security Raise for Seniors
Seniors are likely to see a 2.6% cost-of-living adjustment (COLA) in their Social Security benefits for 2025, according to predictions by the Senior Citizens League. This follows a 3.2% raise in 2024. The forecast is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which tracks inflation.
What the COLA Increase Means
- Impact: Seniors may receive an average of $45 more per month.
- Consideration: Medicare premium hikes could offset part of the increase.
- COLA Raises: Aim to align benefits with rising prices.
While the prediction could change based on upcoming economic data, retirees should anticipate a smaller raise compared to previous years due to adjustments in the CPI-W.
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.