Written by Sharvan Kumar
Officially starting in January 2025, this rise is reflected in every monthly payment that follows. The COLA keeps recipients' purchasing power in face of increasing inflation.
The March payment for retirees aged 62 years old consists in a 2.5% COLA increase, in line with the changes implemented in the last two months.
The usual Social Security schedule will be followed in delivering the COLA-adjusted payments. Beneficiaries born between the 21st and 31st of any month will get their payment on March 26, 2025.
2025 cost-of-living change SSA projections indicate that recipients will not need any action to get the higher payout.
Since the SSA pays delayed retirement with greater monthly payments, those who wait to retire at full retirement age (67) or later might also get quite more benefits. Other changes implemented in 2025 still impact recipients even beyond the COLA raise.
For those still working, the taxable earnings cap has risen; for future retirees, full retirement age changes are still in effect. These developments show continuous attempts to keep the Social Security program sustainable and give Americans more financial protection as they get older.
Retirees could expect another boosted deposit as the March payment draws near, therefore continuing the first bigger monthly checks initially announced in January.
For individuals approaching 62 or already retired, these updates highlight the need of keeping current with the most recent legislative changes affecting retirement income.
To guarantee they get all pertinent updates and notices regarding their Social Security benefits, the SSA advises recipients to maintain current contact information.
From East West Hunt