The Cost of Living Adjustment (COLA) is a very important event for everyone in the United States, even if they do not get Social Security.
In the end, the Cost of Living Adjustment (COLA) lets us get better benefits for more than just Social Security payments.
For that reason, it is very important for beneficiaries to know when this annual raise will start.
Now we know for sure when that raise will show up on our checks. And the truth is that Social Security will send the first payments with a raise in 2024, even though the Cost of Living Adjustment (COLA) date is 2025.
When will we know Social Security’s 2025 COLA?
We do not have an exact date yet for when the 2025 Cost of Living Adjustment (COLA) for Social Security will happen, but we do have a good idea of what it will be. In the middle of October, the US government always says that retiring amounts will go up.
Also, The Senior Citizens League group says that the COLA amount should never be more than 3%. It may be a little less than that, though.
This group knows a lot about this subject and always gives very accurate predictions, so we should keep that in mind. That is about 2.5% for this coming year, 2025. That will not make checks go up by much, but it will be enough to fight inflation.
When will the 2025 COLA hit Social Security checks?
In mid-October, the Social Security Administration will say how much the Cost of Living Adjustment (COLA) for 2025 will be. However, this raise will not be reflected in benefits until the first of the January 2025 calendar checks.
Because of a mistake in the calendar, however, we will be able to see that the first Social Security check for 2025 will be Supplemental Security Income and will come in the year 2024.
This means that the Administration will send the check on December 31, 2024, even though the due date for the payment is January 1, 2025, which is a holiday.
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