When the COLA for Social Security retirement, SSDI, and SSI income goes up in 2025, not every American will get the same amount of money.
It was important news from the Senior Citizens League in September that the COLA rise in 2025 might be only about 2.5%. In fact, it’s bad news for people who thought their monthly payments would go up a lot.
Who will receive the least money from the 2025 COLA for Social Security and SSI benefits?
Mostly, there are three groups of Americans who will get less money than everyone else. All of these Americans will get less money because their benefit is low.
- SSI recipients will get less money than many retirees receiving Social Security
- Social Security recipients on retirement benefits with a small check
- Social Security recipients on SSDI benefits with a small check
What this means is that if your payment is $500 now, you will get $512.5 next year after a possible 2.5% COLA rise in 2025. It only costs $12.5 to get this boost. The person who gets $2,000 a month will get an extra $50 a month.
The lower your Social Security or SSI check, the lower the boost will seem to be
In 2024, people who get SSI can get up to $943 if they are eligible for the most money. That being said, a 2.5% COLA raise will make it $966.5, which is only an extra $23 per month.
The thing is, a lot of people who get SSI don’t get the full amount because they also get retirement or SSDI payments. In this case, the normal SSI amount is $698.
In this case, their monthly cost would be $715. In reality, that’s only an extra $15 a month. For people aged 65 and up who get SSI, the average amount is only $574, which is even less. The extra money they get will only be $14 a month.
Also See:- SSDI Direct Payments of $1,539 and Paydays Prior to the Announcement of the 2025 COLA hike