The Cost of Living Adjustment (COLA) makes sure that Social Security checks go up every year. This will happen again in 2025. It is true, though, that every individual will get a similar raise. In other words, not everyone gets the same amount of money raised.
The amount we collect in 2024 could go up or down depending on how much we collect now. Not only that, but we also need to make sure we know exactly when we will find out what the raise is in 2025 and when it will start.
It is clear that Social Security checks can be very helpful for people, but because of inflation, the U.S. government has to raise them. We find that seniors can handle that because of the COLA.
Key days for Social Security increases in 2025
As we have already talked about, there are two important days that we need to get everything ready for our 2025 Social Security raise. The first is the day when the final 2025 COLA will be made public.
When it comes to benefits, that COLA will start to happen on the second day.
So, here’s what we need to look out for:
The date that the 2025 COLA for Social Security was set: Any idea on when the exact date will be? The U.S. Government always makes it official in the middle of October when benefits are raised for the following year.
The date that the COLA 2025 is added to retirement checks is: This will happen faster than you think. It is true that the payments that go up will happen in 2025, but it is also true that the first one will happen in 2024.
The easy reason for this is that Supplemental Security Income will be the first payment to get the extra COLA, and the January payment will come early on December 31.
Since most experts think that Social Security checks will go up by 2.5%, the biggest check we could get when we leave could be close to $5,000. This is only for the maximum checks; for the rest, they only need to add 2.5% to the sum they already get to get the final amount.
Also see:-How much would my Social Security check be if I have only worked 15 years?