Here’s how much Social Security payments will increase in 2025

WASHINGTON D.C. (WTVO) — More than 72.2 million Social Security recipients will see a 2.5% cost of living adjustment (COLA) in January 2025.

The Social Security Administration expects this will result in an average increase of $50 a month for most recipients.

“Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool,” said Martin O’Malley, Commissioner of Social Security.

The administration announces its annual COLA each fall, based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, which tracks the price paid on average for household goods.

The average monthly benefit retirees receives is about $1,927 a month. After the COLA increase, it will rise to an average of $1,976 a month.

The Social Security Administration will begin notifying beneficiaries of the change in early December.

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