The increase in the payment of Social Security Cost of Living Adjustment (COLA) checks depends on the check that each citizen gets. The truth is that there is a maximum increase, but that does not imply that all citizens get the same amount of dollars, so knowing what the rules are it is easier to calculate what our check will be as of 2025.
Be that as it may, we should keep in mind something else in this regard. As of today we still don’t have an exact Cost of living adjustment (COLA) figure, so right now we can only make predictions. Still, The Senior Citizens League is usually right in their predictions and they have announced that the COLA in 2025 could be around 2.5%.
How much will Social Security paychecks increase with the COLA?
The maximum increase we will see in Social Security paychecks in the coming year 2025 through the COLA, assuming the COLA is 2.5%, will be $121. Therefore, we would be looking at a maximum Social Security check of almost $5,000.
However, each citizen gets the increase based on the check they currently have. If our payment is $1,000 per month, for example, we would get only $25 more per month. While that may not seem like a lot of money, the reality is that if we calculate the entire year it does seem like a large amount.
So, Americans who receive a Social Security check will be able to take advantage of this increase without any problems. Supplemental Security Income recipients will also have access to this COLA, so the maximum payment will no longer be $943 for them.
How to apply for the Social Security COLA?
The best thing about each year’s COLA is that you don’t need to do anything to get the annual increase. This means that just having a monthly Social Security check will be more than enough to be able to apply this increase to our paycheck.
In short, if we have a monthly Social Security payment, whether it is Supplemental Security Income or any other benefit, we will get this increase starting with the first of the 2025 payments. Remember that the COLA is automatic and you don’t have to do anything to apply for it.
