The SSA announced the COLA for next year will be 2.5%.

 

They also said new 1 page letter forms with more detailed information will be sent in December by mail.

They also said the new information is now available online on mySSA accounts.

 

Thursday, October 10, 2024
For Immediate Release

Mark Hinkle, Press Officer

press. Office[at]ssa.gov
Social Security Announces 2.5 Percent Benefit Increase for 2025

Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5 percent in 2025, the Social Security Administration announced today. On average, Social Security retirement benefits will increase by about $50 per month starting in January.

Over the last decade the COLA increase has averaged about 2.6 percent. The COLA was 3.2 percent in 2024.

Nearly 68 million Social Security beneficiaries will see a 2.5 percent cost-of-living adjustment (COLA) beginning in January 2025.  Increased payments to nearly 7.5 million people receiving SSI will begin on December 31, 2024. (Note: Some people receive both Social Security benefits and SSI).

“Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool,” said Martin O’Malley, Commissioner of Social Security.

Some other adjustments that take effect in January of each year are based on the increase in average wages.  Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $176,100 from $168,600.

Social Security begins notifying people about their new benefit amount by mail starting in early December.

This year, for the first time, Social Security beneficiaries will receive a newly designed and improved COLA notice that makes it easier for customers to find the information they need most. The simplified COLA notice is now only one page, uses plain and personalized language, and provides exact dates and dollar amounts of a person’s new benefit amount and any deductions.

Individuals who have a personal my Social Security account can view their COLA notice online, which is secure, easy, and faster than receiving a letter in the mail. People can set up text or email alerts when there is a new message--such as their COLA notice--waiting for them in my Social Security.

People will need to have a personal my Social Security account by Nov. 20 to see their COLA notice online. To get started, visit www.ssa.gov/myaccount.

Information about Medicare changes for 2025 will be available at www.medicare.gov. For Social Security beneficiaries enrolled in Medicare, the 2025 benefit amount will be available via my Social Security's Message Center starting in late November. Those who have not opted to receive messages online will receive their COLA notice by mail in December.

The Social Security Act provides for how the COLA is calculated. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as determined by the Department of Labor’s Bureau of Labor Statistics.

Biden / Harris administration has been very good for expats in Thailand.

 

Hoping for the sequel come November, long may it last.

 

2024 ... HARRIS ... 2024

 

 

 

Of course, the 2025 COLA doesn’t begin to match the increases in prices people are seeing in the U.S.  It’s OK

you’re living in Thailand you aren’t affected all that much. Otherwise, many retirees are in trouble if the only thing they have is Social Security.

 

 

 

 

On 10/17/2024 at 4:00 PM, jas007 said:

Of course, the 2025 COLA doesn’t begin to match the increases in prices people are seeing in the U.S.  It’s OK

you’re living in Thailand you aren’t affected all that much. Otherwise, many retirees are in trouble if the only thing they have is Social Security.

 

 

 

 

SS was never meant to be a senior's sole source of retirement funds.

On 10/11/2024 at 5:55 PM, KhunLA said:

Biden / Harris administration has been very good for expats in Thailand.

 

Hoping for the sequel come November, long may it last.

 

2024 ... HARRIS ... 2024

 

 

 

COLA is based on the CPI, not the Biden/Harris administration.

 

CPI is based on inflation so the Biden/Harris administration was responsible for the largest increase in inflation in recent history which explains the increase in COLA.

On 10/20/2024 at 2:16 PM, EVENKEEL said:

SS was never meant to be a senior's sole source of retirement funds.

Of course not.  But that’s beside the point.  Congress decided to assure that the monthly benefit would be adjusted for inflation, and yet that’s not happening.  The CPI numbers haven’t kept up with real inflation for years.  
 

Anyway, there really are people who actually depend on that money to survive.  I’m not sure how they do it, but I think it’s a good percentage of retirees.

COLA for 2026, announcement, will be a wee bit late this year.  Usually comes out around Oct 15th.

 

Might see it Oct 24th, though don't expect much.   2.5% would be nice, 2.8% better 

 

"The cost-of-living adjustment is expected to be 2.8% for 2026, according to independent Social Security and Medicare analyst Mary Johnson, who has been tracking the figure for almost 30 years. The Senior Citizens League, an advocacy group for older adults, said it expects the COLA to be 2.7%. 

 

The COLA projections for 2026 compare to this year’s COLA of 2.5%. The COLA has averaged 2.6% over more than 20 years."

 

https://www.marketwatch.com/story/social-securitys-cola-announcement-is-back-on-as-some-furloughed-workers-return-to-produce-september-inflation-report-1351d05f

On 10/17/2024 at 4:00 PM, jas007 said:

Of course, the 2025 COLA doesn’t begin to match the increases in prices people are seeing in the U.S.  It’s OK

you’re living in Thailand you aren’t affected all that much. Otherwise, many retirees are in trouble if the only thing they have is Social Security.

 

 

 

 

 

Not affected? A ten percent decline in the value of the dollar against the baht and this measly 2.5 percent COLA to offset last year? And it's probably going to be even less this year as Trump will monkey with the numbers to make sure SSA Cola amounts to nothing.

https://apnews.com/article/social-security-cpi-bureau-of-labor-statistics-cc44750abb0c3a5c2de45626891daa17

On 10/15/2025 at 3:47 PM, jeffandgop said:

https://apnews.com/article/social-security-cpi-bureau-of-labor-statistics-cc44750abb0c3a5c2de45626891daa17

 

Good idea from your link: "Some lawmakers have proposed legislation that would make SSA use a different index, called the Consumer Price Index for the Elderly, or CPI-E, to calculate the cost-of-living increase that measures price changes based on the spending patterns of older people on things such as health care, food and medicine."

36 minutes ago, John Drake said:

 

Good idea from your link: "Some lawmakers have proposed legislation that would make SSA use a different index, called the Consumer Price Index for the Elderly, or CPI-E, to calculate the cost-of-living increase that measures price changes based on the spending patterns of older people on things such as health care, food and medicine."

The very low COLA are a joke, compared to the true inflation that hits the consumers.   Even the Medicare Plan B yearly increase is usually higher than that average 2.5%.   That's kind of a slap in the face, as we'll give this % more, but charge you a higher %   

 

Since I arrived in TH back in 2000, the COLA adjusts have increased a total of 66.1 %