2025 Social Security Cola Estimate - How Much Could You Receive?
The estimated 2025 Social Security COLA (Cost-of-Living Adjustment) is projected to fall between 2.6% and 3.25%, based on current inflation trends and the increase in the CPI-W (Consumer Price Index for Urban Wage Earners and Clerical Workers). The final COLA figure will be announced after September 30, once the remaining CPI-W data is gathered.
The COLA for 2025 will be determined by how much the CPI-W shifts during the months of July, August, and September compared to the same period last year. The official adjustment will be released in October.
In 2024, a 3.2% increase in Social Security benefits was introduced, reflecting the inflation data collected in 2023. Mike Lynch, managing director of applied insights at Hartford Funds, predicts the 2025 COLA will be within the low to mid-2% range, based on recent inflation figures and historical trends.
Alicia Munnell, director of the Center for Retirement Research at Boston College, estimates the 2025 COLA will be between 2.5% and 2.6%. Despite easing inflation, she acknowledges ongoing dissatisfaction with high prices, though she believes the inflationary pressure is starting to subside.
15-Oct-2024 05:46 pm
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