The 2025 increase in Social Security benefits will show up in the payments that started going out on April 9. As part of the Cost of Living Adjustment (COLA) that was put in place in January of this year, retirees in the United States will also see a 2.5% increase in their benefits.
This change is meant to help beneficiaries deal with the effects of inflation and rising prices. Retirees will not have to do anything for it to show up in their payments; it will happen automatically as part of an effort to make sure beneficiaries can keep up with the cost of living.
The SSA payment depends on retirement age
The amount of money someone gets from Social Security depends on how much they earned over their lifetime and how old they were when they retired. When someone retires at age 62, they usually get $2,831 a month.
People who wait to retire until age 67, on the other hand, can get up to $3,822 a month. The most that can be earned is $5,108 for people who have put off retirement until they are 70 years old.
This tiered system is meant to make sure that Social Security will be around for a long time and to encourage people to put off retirement so that they can get bigger benefits.
For Supplemental Security Income (SSI), the amount you can get in 2025 may also depend on your income, the type of disability of the beneficiary, and the number of people living in your home. The most a person can get is $967 per month, and the most a couple can get is $1,450 per month.