Social Security Check Increase – Experts Reveal the Expected Amount

Knowing the yearly increase in Social Security checks is crucial for millions of Americans who depend on these payments for their essential needs like housing, food, healthcare, and entertainment. One key factor influencing these payments is the cost of living adjustment (COLA).

Each year, the Social Security Administration (SSA) implements a COLA to adjust Social Security checks, reflecting the inflation rate. Although experts can estimate the changes in Social Security benefits based on monthly inflation trends, the SSA officially announces the COLA increase in October.

COLA Defined

The COLA ensures that Social Security beneficiaries receive an annual adjustment to their January checks, helping them keep pace with inflation. The Department of Labor’s Bureau of Labor Statistics determines this adjustment, based on the average change in consumer goods and services prices over time.

Calculated during the third quarter of each year, the COLA affects not only Social Security but also other government benefits, including Medicare, Social Security Disability Insurance (SSDI), Supplemental Security Income (SSI), and the Supplemental Nutrition Assistance Program (SNAP).

Projections for 2025

According to the latest projections from the Senior Citizens League (TSCL), the COLA for 2025 will be 2.63%, based on this year’s monthly inflation rates. While this increase provides a boost for Social Security checks, it is lower than the 3.2% COLA approved for 2024.

Seniors closely monitor these adjustments since the annual COLA revision is supposed to help them keep up with rising expenses. Despite previous COLA increases reaching as high as 8.7% in recent years, critics argue that these adjustments still fall short of fully addressing inflation.

Rising Expenses

A study by the Senior Citizens League revealed that 69% of participants reported their household expenses had risen faster than the COLA in the past year, with housing and food costs leading the way. This aligns with widespread concerns from retirees that the COLA increases are insufficient to cover rising inflation, higher healthcare costs, and the overall economic situation. Beneficiaries will not see this boost in their Social Security checks until January 2025, with the official increase announced in October.

Check Increase

Assuming the 2.63% increase is confirmed, here are the projected changes for various Social Security benefits starting January 2025:

Benefit Type	Current Average	Including COLA 2025 (2.63%)
Retirement Benefits
On average	$1,900	$1,950
Age 62	$2,710	$2,781
Age 67	$3,822	$3,923
Age 70	$4,873	$5,001
Survivor Benefits
On average	$1,505	$1,545
Individual	$1,773	$1,820
2 Children	$3,653	$3,749
Disability Benefits
On average	$1,537	$1,577
Blind recipients	$2,590	$2,658
Maximum payment	$3,822	$3,923
SSI Benefits
On average	$698	$716
Individuals	$943	$968
Couples	$1,415	$1,452
Essential person	$472	$484

SSI beneficiaries will receive their COLA-adjusted payments on December 31, 2024, as the first of January is a holiday, and the SSA reschedules payments for the preceding business day.

Keeping up with COLA adjustments is crucial for beneficiaries who rely on Social Security payments to manage their finances effectively. These yearly changes help ensure that benefits align more closely with the cost of living, despite ongoing debates about their adequacy.

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