The Social Security Administration is all set to make the official COLA 2025 announcement on October 10, 2024. The Cost of Living Adjustment increase 2025 reflects the change in monthly social security payments. Along with this, a few other Upcoming Social Security Changes Due to COLA 2025 for eligible beneficiaries can be seen. As of now, it is reported that the COLA 2025 may get an increase of 2.5% which is slightly lower than the previous COLA increase of 3.2%. Social Security beneficiaries can get a 2.5% rise in their monthly retirement and disability pension once the COLA 2025 is revealed.
Upcoming Social Security Changes Due to COLA 2025
For 2024, the SSA implemented a 3.2% increase in the monthly pensions for retired seniors and disabled citizens. As the third quarter of 2024 is at an end, it is time for the SSA to soon make an official announcement for the COLA increase 2025. With this, there may be two major Upcoming Social Security Changes Due to COLA 2025. U.S. citizens can get a Social Security Increase 2025 in their monthly pensions. In addition to this, the SSA may also increase the social security earning limit for seniors in 2025. As a result, citizens can contribute more during their employment and can later receive higher retirement benefits.
The SSA uses the data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) of the third quarter to decide the average COLA increase for a financial year. At present, a 2.5% COLA increase 2025 is on the cards and citizens may get an official confirmation of this on October 10, 2024. As a result, the retirement pension, disability pension, and survivor’s benefits may soon get an increase. That means the current pension amount that the beneficiaries are receiving may get a 2.5% increase in 2025. However, these social security changes due to COLA 2025 will be implemented no before January 2025.
Upcoming Social Security Changes COLA 2025 Highlights
| Title | Upcoming Social Security Changes Due to COLA 2025 |
| Country | The USA |
| Department | Social Security Administration (SSA) |
| Category | Government aid, News |
| COLA 2025 Announcement | October 10, 2024 |
| COLA 2025 Implement on | January 1, 2025 |
| Applicable for | Social Security Beneficiaries |
| Year | 2024 |
| Official website | ssa.gov |
COLA 2025 Social Security Payment Amount Changes
With the Upcoming Social Security Changes Due to COLA 2025, it is confirmed that the eligible beneficiaries can get an expected 2.5% increase in their Social Security pension. At present, the SSA guarantees a monthly benefit of $973 to an eligible individual. On the other hand, the same amount is increased to $1,415 if a married couple is claiming social security combinedly. Apart from that, for the disabled recipient, the SSDI payments are approximately $1,478 per month. Now, on October 10, 2024, when the SSA announces the COLA 2025 increase, all these payments may get a Social Security Increase 2025. The expected payment change details can be found in the following table:
| Recipient | Monthly Payment (2024) | Annual Payment (2024) | Monthly Payment (2025 with 2.5% COLA) | Annual Payment (2025 with 2.5% COLA) |
| Eligible Individual | $943 | $11,321.49 | $966.5 | $11,604.5 |
| Married Couple | $$1,415 | $16,980.36 | $1,450.4 | $17,404.8 |
| Essential Person | $472 | $5,673.73 | $483.8 | $5,815.5 |
| SSDI Payments | $1,478 | $17,736.00 | $1,514.9 | $18,179.4 |
Who is Eligible For Upcoming Social Security Changes in 2025
The Upcoming Social Security Changes Due to COLA 2025 only applies to those who prove their eligibility requirements to the SSA. Citizens can find the eligibility criteria in the following points:
- Citizenship: The SSA guidelines require a person to hold the citizenship of the United States of America.
- Permanent Residency: A person should be a permanent resident in any of the states or territories of the U.S.
- Age Criteria: The minimum age to claim Social Security Increase 2025 is 62.
- Social Security Contribution: During the employment age, a person must have contributed to social security to claim a retirement pension.
- Work Credits: When a person contributes, he/she earns work credits. The minimum work credit requirement is 40.
- Social Security Number: An applicant should possess a Social Security Number to claim Social Security Increase 2025.
- Disability: If a person is below 62 years of age and suffering from a disability, he/she can claim the SSDI benefits.
COLA Social Security Changes 2025 Payment Schedule
The Social Security Changes 2025 Payment Schedule will follow the same pattern as of 2024. The SSI and the SSDI payments for the social security beneficiaries before May 1997, their payment arrives on the first and the third of each month. For those entitled to social security after May 1997, their payment follows the second, third, and fourth Wednesday as per their date of births of the payment dates:
| Birth Date – 1st to 10th of the month | Birth Date – 11th to 20th of the month | Birth Date – 21st to 31st of the month |
| January 8 | January 15 | January 22 |
| February 12 | February 19 | February 26 |
| March 12 | March 19 | March 26 |
| April 9 | April 16 | April 23 |
| May 14 | May 21 | May 28 |
| June 11 | June 18 | June 25 |
| July 9 | July 16 | July 23 |
| August 13 | August 20 | August 27 |
| September 10 | September 17 | September 24 |
| October 8 | October 15 | October 22 |
| November 12 | November 19 | November 26 |
| December 10 | December 17 | December 24 |
Earning Limit For Social Security Changes 2025
A citizen can start receiving social security benefits at 62 years of age in the USA. However, the SSA still allows the beneficiary to work and make contributions to social security. For that, the SSA has set a minimum earning limit. For those who are yet to reach the full retirement age (65 years), the earning limit for them is $22,320 as of 2024.
On the other hand, for recipients who are working in their post-retirement age, their income should not exceed the limit of $59,520. With the inflation and the COLA all set to get a hike, these earning limits may also rise. However, recipients may be required to wait until October 10, 2024, to get the details for the Upcoming Social Security Changes Due to COLA 2025. For more information, eligible citizens can also visit the official website of SSA.
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Raul joined SD News team in 2021, bringing his experience as a editor-cum writer on global financial & trending topics. From a young age, Raul developed a keen interest in Finance, which propelled his to pursue an undergraduate degree in global and international studies. Raul skillfully combines his knowledge of political economy and finance to empower readers with crucial insights.