Reminder: Ohioans will see an increase in their Social Security benefits starting in January 2025.
The Social Security Administration (SSA) announced today that Social Security benefits and Supplemental Security Income (SSI) payments will rise 2.5% in 2025, affecting more than 72.5 million Americans.
The cost-of-living adjustment (COLA) will increase the average Social Security retirement benefit by about $50 per month beginning in January.
This increase is slightly lower than the average COLA over the last decade, which has been 2.6%. In comparison, the COLA for 2024 is 3.2%.
Nearly 68 million Social Security beneficiaries will see an adjustment in January 2025, while increased payments to approximately 7.5 million SSI recipients will begin on December 31, 2024.
Some people receive both Social Security and SSI benefits.
Other Adjustments for 2025
The maximum earnings subject to Social Security tax will also rise, from $168,600 to $176,100, reflecting average wage growth.
Notifications and Simplified Notices
Beneficiaries will receive mail notifications about their updated benefit amounts beginning in early December.
This year, the SSA will issue new, one-page COLA notices. These notices will include personalized information, such as exact benefit amounts, deduction details, and important dates.
Individuals with a personal my Social Security account can view their COLA notices online, which the SSA claims is faster and more secure than waiting for mail delivery.
Beneficiaries can sign up for text or email alerts to receive notifications when their notice becomes available online.
To access the COLA notice digitally, individuals must create a my Social Security account by November 20.
Medicare Updates
Information about Medicare changes for 2025 will be available at www.medicare.gov.
Beginning in late November, Social Security beneficiaries who have enrolled in Medicare will be able to view their updated benefit amounts through the my Social Security Message Center.
Beneficiaries who request traditional mail notifications will receive their COLA notices in December.
How COLA is Calculated
The annual COLA is linked to changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), as determined by the Bureau of Labor Statistics.
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