Social Security beneficiaries are anticipating several important changes in 2025, especially with the projected cost-of-living adjustment (COLA). Though a 2.5% increase is expected, lower than the 3.2% rise in 2024, there are three key dates to remember as these adjustments are rolled out.
October 10, 2024: Official COLA Announcement
On this date, the Social Security Administration will announce the official COLA for 2025. The final figure will be based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) data from the third quarter of 2024. The COLA is applied to the Primary Insurance Amount (PIA), which helps beneficiaries estimate their new monthly benefit amounts.
Early December 2024: Personalized COLA Notices
Beneficiaries will start receiving personalized COLA notices from the Social Security Administration in early December. These notices will detail the exact benefit amounts for 2025. If you’ve set up a My Social Security account, you can view your notice digitally by mid-November. To learn more about setting up your account, visit the Social Security Administration website.
January 8, 2025: First Checks with COLA Increase
Beneficiaries will receive their first checks reflecting the 2025 COLA increase on January 8, depending on their birthdate. Supplemental Security Income (SSI) recipients, however, will get their checks earlier, on December 31, 2024, due to the federal holiday on January 1.
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These dates mark significant changes for Social Security beneficiaries, ensuring they receive updated benefits to better manage rising living costs in the new year.