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Social Security’s Cost of Living Adjustments

On Behalf of | Oct 11, 2024 | Social Security Disability

What are cost-of-living adjustments?

Social Security Income (SSI) and Social Security Disability (SSD) benefits depend on a multitude of factors for each individual person. Annually these benefits change in a cost-of-living adjustment (COLA) that takes changes in household expenses such as groceries, rent, and utilities into consideration.  The exact adjustment amount is based on inflation data collected by the U.S. Bureau of Labor Statistics.

What are the cost-of-living adjustments for 2025?

On October 10th, the Social Security Administration announced that the adjustment for 2025 will be 2.5%. This means there will be an average benefit increase of $50 per month!

When will it take effect?

If you currently receive Social Security benefits, you will receive notice of your new monthly benefit amount by mail in early December or on your mySocialSecurity account in mid-November. These adjustments will take effect on December 31, 2024 for SSI beneficiaries. SSD beneficiaries will see this adjustment beginning in January 2025.

If you have any questions about cost-of-living adjustments, please call us at 888-473-1289  ocontact us through our website.

If you are looking to file a Social Security claim for benefits, we can help! We offer free consultations, and only collect fees if we win your case! Call us at 888-473-1289 or contact us through our website to get started.