Social Security Cost of Living Adjustment (COLA) checks vary from person to person in terms of how much they go up.
There is, in fact, a maximum increase, but that does not mean that everyone gets the same amount of money. Knowing the rules makes it easy to figure out how much our check will be in 2025.
No matter what, though, we should remember something else about this. We still do not have a precise Cost of living adjustment (COLA) number, so we can only guess at this point.
Still, the Senior Citizens League usually gets it right when they say what will happen, and they now say that the COLA could be around 2.5% in 2025.
How much will Social Security paychecks increase with the COLA?
Taking into account a 2.5% COLA, the biggest rise that will happen to our Social Security checks in 2025 will be $121. So, the most we could expect from Social Security is a check for almost $5,000.
But each person gets the extra money based on the amount of money they already have. Since we already get $1,000 a month, we would only get $25 more each month. It might not seem like a lot of money at first, but when we add it up over the whole year, it does seem like a lot.
The people in the United States who get Social Security checks will be able to use this raise without any issues. People who get Supplemental Security Income will also be able to use this COLA, which means that their maximum amount will no longer be $943.
How to apply for the Social Security COLA?
The best thing about the COLA is that you do not have to do anything to get it every year. That means that getting a Social Security check every month will be more than enough to cover this increase in pay.
To sum up, this raise will start with the first payment we receive from Social Security in 2025 if we receive a monthly payment.
This includes Supplemental Security Income as well as other benefits. Do not forget that the COLA is already yours; you do not need to do anything to get it.
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