As of October 10, 2024, the Social Security Administration (SSA) has announced the 2025 COLA increase for retirees, SSDI and SSI recipients in the United States of America.
The 2025 cost-of-living adjustment will be just 2.5%. This increase is slightly lower than the average COLA which is about 2.6%. On average, that will mean retirees will collect 50 dollars extra per month. So, about 600 dollars in 12 months.
Why will Social Security start sending notices soon?
Relax because this notice can only give you good news. It is not an overpayment notice. In fact, it is the 2025 COLA notice to inform retirees that they will get a 2.5% increase from January onward.
What is more, each recipient will be able to see the exact amount of money they will receive after COLA. In this way, they can plan their monthly budget accurately.
This 2025 COLA increase notice will be sent by mail. This COLA notice has been made simpler and it has a new design. By doing so, Social Security tries to make it easier to understand. It will only have one page. The language used will be plain and personalized.
What details will this COLA notice from Social Security contain?
The most important information this Social Security notice will contain is the exact dollars beneficiaries will get in their January payment with COLA. However, it will not be the only important information
This Social Security notice will also inform Americans on benefits about the exact dates of the COLA increase. Moreover, they will be able to see if they will get a deduction or not. Bear in mind that some retirees who have other earnings may move to a different tax bracket after the increase.
Those who already have a my Social Security account can check the COLA notice online. So, if you do not want to wait for the mail, visit your online account to check it, which will be faster. Summing up
- COLA notice by mail in December
- to check exact amounts
- to check exact dates
- my Social Security online accounts allows you to check the COLA notice faster and for free