Navigation Cost-of-Living Adjustment for 2025
On October 10, 2024, the Social Security Administration announced a 2.5% benefit increase for 2025. This cost-of-living adjustment (COLA) is smaller than last year’s COLA which saw a benefit increase of 3.2%. Over the last decade, the COLA increase has averaged about 2.6%.
Beginning in January of 2025, approximately 68 million Social Security beneficiaries will see an increase in benefits. For the approximately 7.5 million SSI beneficiaries, the cost-of-living adjustment will begin on December 31, 2024.
The average Social Security benefit will increase by $50. For SSI recipients, the federal maximum will increase from $943 to $967 a month for individuals and from $1,415 to $1,450 for couples.
