The Cost of Living Adjustment is one of the things that people who get Social Security in the United States look forward to the most.
If you get one of these retirement checks, you will get a yearly raise thanks to the COLA. We will soon know what the 2025 COLA is, which will let us start figuring out our next year’s check.
We will have to be patient until a few days from now to find out the exact COLA number. This will tell us how much extra money the Social Security Administration will send us starting in 2025.
There will no longer be checks that are the largest amount possible, which was $4,873. New checks will be issued that are bigger.
When will we know the Social Security COLA 2025?
It is not a guess when we will know what the COLA 2025 will be, but it is a good guess. We might find out how much the COLA 2025 is in the second week of October. On the other hand, there is no public word on this. But this is how the U.S. Government usually says this number at this time.
In light of the COLA, we should remember the following:
- We will havethe exact amount around mid-October.
- It is possible that the Social Security COLA will be 2.5%.
However, the Senior Citizens League thinks that the rate will go up by 2.5%, even though we do not have an exact number yet. This group usually gets these annual rate increases right.
When will the Social Security COLA arrive in 2025?
The truth is that even though the COLA will raise Social Security payments starting in 2025, the first payments with the higher amount will come in this year, 2024.
The reason for this is that the COLA is also added to the Supplemental Security Income check.
This means that when you get a check for this benefit, the COLA will be added, and you will be able to get the first payment for 2025 in 2024.
Since January 1 is a holiday, this check will be sent to people by the Social Security Administration on December 31, 2024, which is the last working day before the holiday.
Also see:-This is a list of people who will not get Social Security next week
