The Cost of Living Adjustment (COLA) is one of the most important moments for United States citizens, whether they collect Social Security or not. At the end of the day, thanks to the Cost of Living Adjustment (COLA), we can get better benefits for different types of benefits, not just SSA benefits.
So knowing at what point in the year this annual increase will take effect is hugely important for beneficiaries. And now we can already know when our checks will have that increase applied. And the truth is that even though the Cost of Living Adjustment (COLA) is 2025 the first of the payments with an increase will be sent by Social Security in 2024.
When will we know Social Security’s 2025 COLA
While it is true that we do not yet have an official date to know what Social Security’s 2025 Cost of Living Adjustment (COLA) will be, the truth is that we can have an estimate. The United States Government always announces the increase in retirement amounts in mid-October.
Also, the COLA amount may be a little less than 3%, but never exceed it, according to the latest estimates from The Senior Citizens League group. This group is an expert and always makes very realistic estimates in this regard, so we should keep that in mind. For this coming year 2025, the estimate is around 2.5%, which would push checks up not much, but enough to combat inflation.
When will the 2025 COLA hit Social Security checks
The Social Security Administration will announce what the Cost of Living Adjustment (COLA) 2025 amount will be in mid-October, but it won’t be until the first of the January 2025 calendar checks that we see this increase applied to benefits.
However, due to a calendar irregularity we will be able to see that the first of the 2025 Social Security payments will be Supplemental Security Income and will appear within the 2024 calendar year. Thus, since the official day of this payment is January 1st, 2025 and that day is a holiday, the Administration will send out the check on the 31st day of December 2024.
