The Cost of Living Adjustment (COLA) is one of the most important elements of the United States for citizens who collect only a monthly Social Security check. Through this system, the United States Government increases the checks of retirees so that it is possible to get a larger benefit each year, which keeps citizens’ standard of living from dropping too low in their golden years.
Thus, a citizen with a Social Security check should know all about the COLA. Ultimately, part of his or her benefit for the next year depends on this increase. If the increase is large, the citizen will have a larger check. It is also possible to find that there is no COLA increase in any given year, although it is true that there is usually a COLA increase every year.
2025 COLA Increase for Social Security Retirees
Americans who get the COLA 2025 increase are all those who have any kind of retirement check or any other payment from Social Security. In this regard, we can see that the citizens with this increase are those who:
- Have a Social Security retirement check.
- Collect a Disability check.
- Have a Supplemental Security Income payment.
- Are collecting any other Social Security payment such as a spousal benefit, widow’s benefit, etc.
The announcement of this payment will be made next October. Typically, the announcement is issued in the second week of the month, but we do not yet have an exact date to know what the COLA 2025 will be. As for the amount, it will all depend on inflation in the third quarter.
If we have very high inflation, we will get a higher COLA. If not, we will get a smaller increase. What is certain is that we are not going to get the COLA of a couple of years ago, because it was very close to 9% and in 2024 inflation has not increased that much.
How to apply for the 2025 COLA?
The best thing about the COLA is undoubtedly that we don’t have to do anything to apply for it. This means that if we do nothing we will see the increase in our Social Security check anyway. So the increase is automatic. Without a doubt, this is good news for all those Americans who are waiting for a little extra money each month.
Remember, starting January 2025 you will see the COLA 2025 increase in your monthly benefit. Likewise, SNAP will also have such an increase, although this increase comes before 2025, since SNAP has a different payment setup than Social Security.
