We're only a few weeks away from finally learning what the 2025 Social Security cost-of-living adjustment (COLA) will be. Current projections put it around 2.5%, less than the 3.2% beneficiaries got this year. But this could still change a little.
Much of the attention has been on the announcement date itself. But there are also two other key dates to note related to the 2025 COLA.
### Key Social Security COLA Dates for 2025
1. **October 10, 2024: COLA Announcement**
The Social Security Administration will announce the 2025 Cost-of-Living Adjustment (COLA) on October 10. This announcement will include the September 2024 Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is essential for calculating the COLA. The government will average this with the data from July and August and compare it to the average third-quarter data from 2023. The difference will determine the COLA. While the COLA is applied to your primary insurance amount (PIA), you can estimate your 2025 benefit by adding the COLA percentage to your current checks. For instance, if the COLA is 2.5% and your current monthly payment is $2,000, you can expect an increase of $50 in 2025.
2. **December 2024: Personalized COLA Notices**
In early December, the Social Security Administration will send personalized COLA notices to all beneficiaries, detailing their 2025 payment amounts. If you have a my Social Security account by mid-November, you can view your COLA notice through the Message Center. You can also opt for email or text alerts for notification when your notice is available. The administration will mail out notices throughout December, so if you don’t receive yours by January 2025, hold off on contacting them about it.
3. **January 8/15/22, 2025: First Payments with COLA**
The COLA will be applied to your December 2024 payment, but since Social Security checks are issued in the following month, the first COLA-included payments will be sent in January 2025. The exact date depends on your birthdate:
- Born on the 1st through 10th: January 8, 2025
- Born on the 11th through 20th: January 15, 2025
- Born on the 21st through 31st: January 22, 2025
Beneficiaries will continue to receive payments on the second, third, or fourth Wednesday of each month based on their birthdates.
Supplemental Security Income (SSI) recipients will see their increased checks even earlier; since January 1, 2025, is a federal holiday, these payments will be issued on December 31, 2024.
Once you know your expected payments for 2025, you can start planning your budget. If you have questions about how the COLA will impact your payments, it’s best to wait for your COLA notice in December, as it may answer many of your queries.
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