Check Amount, Eligibility, Payment Dates

As the announcement of the 2025 COLA gets closer, it’s crucial for beneficiaries to stay informed about Social Security COLA Important dates and understand how this adjustment may affect their benefits.

Although it is less than the 3.2% increase in COLA for 2024, the estimated 2.5% increase for 2025 may still offer some respite from the rising cost of living. The key dates and information are provided in this article to make sure you are prepared for the changes.

Social Security COLA Important Dates for 2025

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is responsible for changes in inflation and living expenses, acts as the foundation for the COLA. Comparing CPI-W data from the third quarter of this year to the same period last year produces the final COLA figure.

The COLA is expected to be roughly 2.5% in 2025. Your Primary Insurance Amount (PIA), which is the benefit you would receive at full retirement age, will be impacted by this adjustment even though it has no direct impact on your monthly benefit.

Social Security COLA Dates 2025 Overview

COLA Announcement on October 10, 2024

• On October 10, 2024, the Social Security Administration (SSA) will formally announce the 2025 COLA.
• The exact percentage increase, determined from the CPI-W data for July, August, and September of 2024, will be confirmed with this announcement.
• This percentage is going to help you in estimating the amount of additional income you can expect, even though it might not have an immediate effect on the benefits you see in your monthly checks.
• For example, a 2.5% increase on a $2,000 monthly payment would result in an additional $50 per month.

December 2024 Personalized COLA Notices

• The Social Security Administration (SSA) will send out individualized notices describing each beneficiary’s updated benefit amounts for 2025 in December 2024.
• As soon as this information becomes available, you can access it through your online Message Center if you have a my Social Security account.
• If you do not have an account yet, setting one up before the middle of November will allow for faster access to your updated benefit details.
• Notices by mail will be distributed during December; if you do not receive your notice, the Social Security Administration advises you to wait until January 2025 to get in contact.

January 2025 First COLA-Adjusted Payments

Although the COLA is officially applicable to payments made in December 2024, beneficiaries checks will begin to reflect the adjustment in January 2025. Your birthdate will determine when your first COLA-adjusted payment is due:

Expectations for the 2025 COLA Increase

• You can start creating your budget for the upcoming year in January 2025, the month your first COLA-adjusted payment is received.
• Although the expected 2.5% increase could reduce some of the situation, it is less than the adjustment from the previous year and might not keep up with the overall increase in costs.
• As always, Contact SSA authorities if you have any questions about how the 2025 COLA will impact your particular circumstance.
• It is therefore best to refer to your personalized notice, which has more accurate data about the amount of your adjusted benefit.

FAQs