The Senior Citizens League has recently released the latest 2025 COLA projection for Social Security. Bear in mind that its forecasts tend to be the most accurate ones.
So it is worth paying close attention to its 2025 COLA projections because it can help you get an idea of what your increase could be like. Since the 2024 boost was a letdown, many retirees hope the situation may change in next year’s COLA.
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2025 COLA projection for 2025
According to the Senior Citizens League, the 2025 Cost of Living Adjustment increase could be about 2.63%. Therefore, there could be a considerable difference between this year’s and next one’s boost.
In fact, the Cost of Living Adjustment may be substantially lower. For your information, the 2024 COLA was 3.2%. If the 2025 increase is just 2.63%, there could be a lower boost of 0.57%.
Still, this new projection is much better than the one made in June. Bear in mind that it was just 2.57%. The first projection in 2024 was even lower, it was just 1.75% in February. So, there has been a continuous but slow increase.
2025 COLA increase & Social Security amounts
The latest Cost of Living Projection will mean getting more money if you are on Social Security retirement, disability, or SSI benefits. For example, if you receive a payment worth $1,000, you could get about 26 dollars extra per month. So, a total of $1,026.3.
Social Security recipients who get $2,000 per month could get about $2,052 after the 2025 Cost of Living increase. If you rely on SSDI, disability benefits, your check could be worth $1,577 on average.
Supplemental Security Income (SSI) recipients who get $943 (the maximum amount), could get about $967.80. Married couples on SSI could receive a maximum payment of about $1,452.
For your information, the 2025 COLA will not be announced until October 10, 2024. What is more, recipients will get the increase in January 2025. SSI recipients will start getting the boost on December 31, 2024, though.