The United States Cost of living Adjustment is, without a doubt, one of the most useful tools for Social Security beneficiaries, both for Disability and other benefits. Thanks to this adjustment method, we can get a little extra money each year so as not to lose purchasing power.
And now that we have a forecast in mind that may be accurate we can calculate roughly what the Disability payment will be in the coming year 2025. These benefits will have not only a new maximum payment, but will also offer a new average check to their beneficiaries and, finally, a different maximum check for all other Social Security retirees.
Even so, it is true that we still have to wait a few more days until we get the final COLA figure and, therefore, the final figure for the increase in Social Security Disability checks. But once the COLA is announced we will be able to make our plans and have an accurate figure for benefits for next year 2025.
New Maximum for Disability after COLA
Considering that we do not yet know the exact amount of the 2025 COLA we can only venture to find out through forecasts made by experts. In this sense, The Senior Citizens League has talked about that we could count on a 2.5% COLA for next year 2025, which would make the amounts of the Disability payments and the rest of the Social Security checks go up a little bit.
So, in that case we have to keep in mind that the maximum payments, depending on the categories, could be as high as:
- Maximum Social Security Disability check: In 2024 it is $3,822 per month, which would make it $3,917 in 2025.
- Age Retirement Payments: From the maximum $4,873 in 2024 we would reach $4,994 in the next year after the COLA.
Thus, we would get a little extra money that while it may not seem like much is enough to be able to effectively deal with inflation. All Social Security payments, both those for Disability and the rest of the checks will have this increase which will probably be 2.5%, but it could be different.
When will we know the COLA for disability checks?
The 2025 COLA will be announced, if nothing prevents it, on October 10, 2024. Thereafter we will be able to have accurate figures on how much all Social Security benefits will increase, both for Disability and all other types of retirement.
Until then we can only make forecasts, but it is true that these forecasts are usually accurate, since they are made by experts. We could be facing the lowest increase in many years, but it is true that inflation is also the lowest in a long time.
Be that as it may, what is certain is that the citizens of the United States will be able to enjoy this new Social Security check with increase without problems, so they will be able to face inflation and other types of expenses in order to have a better standard of living or, at least, to maintain the one they have had until now.