Starting October 10, 2024, the Social Security Administration (SSA) announced the 2025 COLA raise for Americans who are retired or receive SSDI or SSI.
Only 2.5% will be added to the cost of living in 2025. The usual COLA is about 2.6%, so this raise is a little less than that. That means that retirees will get an extra $50 a month on average. That’s about $600 over 12 months.
Why will Social Security start sending notices soon?
Don’t worry, this letter can only mean good things. It’s not a report of overpayment. In fact, it is the 2025 COLA letter that tells retirees that starting in January, they will get a 2.5% raise.
Also, everyone who gets COLA will be able to see exactly how much money they will get. So, they can make a good plan for their monthly spending.
You will receive this notice of the 2025 COLA raise in the mail. The new look of this COLA letter makes it easier to understand. Social Security does this to try to make it easy to understand. There will be just one page. The words used will be simple and unique.
What details will this COLA notice from Social Security contain?
The most important thing that this Social Security letter will say is how much money people will get in their January payment with COLA. It will be important, but not the only thing that is known.
This Social Security notice will also tell people who are already getting payments when the COLA increases will happen. They will also know if they are going to get a reduction or not. Remember that some retirees who make money in other ways may be moved to a different tax group after the rate rise.
Online check of the COLA letter is possible for people who already have a my SSN account. So, if you don’t want to wait for the mail, you can check it faster by going to your online account. To sum up
- COLA notice by mail in December
- To check exact amounts
- To check exact dates
- my Social Security online accounts allows you to check the COLA notice faster and for free