Social Security Administration to Announce 2025 COLA Amid Rising Inflation for Veterans
Preparing for the 2025 Social Security COLA Announcement
As the Social Security Administration gears up for a critical announcement regarding the 2025 COST-OF-LIVING ADJUSTMENT (COLA), inflation remains a pressing issue for veterans and retirees alike. Every fall, the administration assesses inflation data to adjust payments for about 70 million beneficiaries.
When Will the COLA Be Announced?
The expected announcement aligns with the release of the September Consumer Price Index report, set for October 10. The COLA is crucial as it reflects the rate of inflation, aiming to ensure beneficiaries maintain their purchasing power amid economic fluctuations.
What to Expect from the 2025 COLA?
Forecasted at approximately 2.5%, this adjustment marks the smallest increase since 2021, following unprecedented rises during previous years. The average Social Security payment for retirees is projected to reach $1,955 if the proposed adjustment is confirmed.
Impact on Veterans’ Benefits
Recently, legislation has been enacted to align Veterans Affairs benefits with Social Security's COLA adjustments. This will ensure veterans receive benefits consistent with the same inflation changes, providing much-needed support in these dynamic economic times.
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.