Social Security retirees are in line for a raise in 2025. But just how much more will the average retiree get when their new checks start coming in January of next year? Here’s what you need to know.
Expect a 2.6% cost-of-living adjustment next year
No official announcement has been made yet regarding how much more money seniors will get in their Social Security checks next year once their benefit increase happens. But The Senior Citizens League (TSCL), a senior advocacy group, estimates that the benefits boost is likely to come in at 2.6%.
This estimate is based on the current Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) data. CPI-W is a consumer price index that tracks how the cost of goods and services shift over time. The COLA is actually calculated using the average of the CPI-W data for the third quarter of the year. Since…
