{"id":8247,"date":"2024-11-20T21:24:35","date_gmt":"2024-11-20T21:24:35","guid":{"rendered":"https:\/\/finderica.com\/social-security-to-send-notices-revealing-size-of-2025-benefit-checks\/"},"modified":"2024-11-20T21:24:35","modified_gmt":"2024-11-20T21:24:35","slug":"social-security-to-send-notices-revealing-size-of-2025-benefit-checks","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=8247","title":{"rendered":"Social Security to send notices revealing size of 2025 benefit checks"},"content":{"rendered":"
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<\/a>A new 2.5% cost-of-living adjustment<\/h2>\n
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In 2025, retirement benefits will increase by about $50 per month, on average, according to the Social Security Administration.<\/p>\n

That’s due to the 2.5% annual cost-of-living adjustment.<\/p>\n

Notably, the benefit boost for 2025 will be the lowest since 2021. As the pace of inflation has subsided, the cost-of-living adjustment has come down with it, since the Social Security Administration uses government inflation data to calculate the annual change.<\/p>\n

Beneficiaries saw the highest increases in four decades in 2023, when the COLA was 8.7%, and in 2022, when benefits went up by 5.9%. However, the annual COLA started to come down in 2024, with a 3.2% annual adjustment.<\/p>\n

“Although price increases have moderated, it’s not as though inflation is over,” said Joe Elsasser, a certified financial planner and president of Covisum, a Social Security claiming software company. \u00a0<\/p>\n

If the pace of inflation picks up again, the annual COLA could go up again, he said.<\/p>\n<\/div>\n

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