As of October 10, 2024, the new 2025 COLA increase was confirmed by the Social Security Administration. Once the CPI-W for September was unveiled, the Agency released the new cost-of-living figure.
Actually, it is lower than retirees and other Social Security beneficiaries had expected. Therefore, there is a feeling of disappointment among them. As a matter of fact, the 2025 COLA boost has just been 2.5%.
The 2025 COLA increase for survivors
When people think of the 2025 cost-of-living adjustment, retirement benefits come to mind. However, not only retirees get money from the Social Security Administration.
For example, Supplemental Security Income (SSI) recipients also get an increase even if it is federally funded. According to the Social Security Administration, a widowed mother and 2 children receive on average about $3,669 before the COLA increase.
After the 2025 cost-of-living adjustment increase, the estimated average payment for a widowed mother and 2 children will be about $3,761. Hence, there will be an average increase of about 92 dollars for them.
What is the estimated average payment after COLA for an aged widow or widower on their own?
Since they do not receive any supplement because they do not have any eligible children, the estimated average payment after the cost-of-living increase will be about $1,832 for an aged widow or widower alone.
The current amount for an aged widow or widower alone is about $1,788. Thus, the average increase for them will be about 44 dollars extra. In one year, they will receive about $528 extra.
If you have a completely different payment amount, you can simply use your my Social Security account to check the new amount there. However, if you would like to work it out on your own, do this.
For each 100 dollars you receive from Social Security, you will receive 2.5$ If you get $1,000, it is basically ten times $2.5. That makes a total of $25 extra per month. So, $1,025 per month.
