Every October, the Social Security Administration (SSA) announces how much more seniors will receive from the government program the next year due to inflation. The COLA for 2025 will be 2.5%, which is a big step down from the increases received for the last three years.

New York — Tens of millions of older Americans will see an increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments.

The Social Security Administration said Thursday that payments would increase 2.5% in 2025, starting with benefits paid in January.

Inflation has fallen from the four-decade high it reached in 2022, but the price increases that scorched the economy following the pandemic are still a source of hardship for many retired workers. Consider these statistics from the Schroders 2024 U.S. Retirement Survey: Fewer than 50% of retired workers believe they have enough money saved.

Millions of retirees who receive Social Security benefits will see a 2.5% cost-of-living increase to their monthly checks beginning in January

Social Security recipients will see a 2.5 percent bump as part of their cost-of-living adjustment (COLA) for 2025. The increase announced on Thursday marks the smallest in years and is in line

Those receiving spousal benefits can expect to receive the same increase the primary spouse receives to their retired worker benefits.

A recent survey from the Motley Fool shows 50% of retirees have considered going back to work to make ends meet.

The Social Security Administration (SSA) recently announced the upcoming cost-of-living adjustment (COLA) for 2025, and many retirees feel discouraged by it. Next year's adjustment will be 2.5%, the lowest since 2021.