On average, the COLA of Social Security by 2025 it will be higher for retired workers aged 70, and the Department of Labor released September inflation data, and shortly afterward the U.S. Administration of Social Security made the announcement of the official cost of living adjustment (COLA) to 2025. The Social Security Administration announced yesterday that the cost of living adjustment of the Social Security by 2025 it will be 2.5%. The annual adjustment, COLA, helps the payments of more than 72 million citizens, the vast majority of them already retired, to keep pace with price increases. As inflation has largely declined from its peak in recent years, the COLA of 2025 is lower than it has been lately.
It is 0.7% less than the 2024 COLA, which was 3.2%, and significantly less than the large 8.7% increase that beneficiaries received in 2023. “The benefits of Social Security and payments of SSI will rise in 2025, helping handfuls of people keep up with spending even as inflation has begun to cool,” said Martin O’Malley, commissioner of the Social Security, in a press release.
How Much Will Retirees Receive With the COLA
Retirees aged 70 will receive the older ones COLA in nominal dollars in 2025. The average profit of the Social Security for retired workers it was $1,920 in the month of September 2024. That figure will increase by $48 the following year in case of a cost of living adjustment (COLA) of 2.5%.
However, retirees with above-average benefits will receive a COLA nominal in increased value, meaning your payments will increase by more than $48. Likewise, retirees with below-average benefits will receive COLA nominal in fewer dollars, meaning your payments will increase by less than $48.
| Age | Average Retired-Worker Benefit |
| 62 | $1,311 |
| 63 | $1,344 |
| 64 | $1,436 |
| 65 | $1,583 |
| 66 | $1,774 |
| 67 | $1,894 |
| 68 | $1,947 |
| 69 | $1,971 |
| 70 | $2,068 |
| 71 | $2,057 |
| 72 | $2,044 |
| 73 | $2,011 |
| 74 | $2,002 |
| 75 | $2,013 |
| 76 | $1,998 |
| 77 | $2,004 |
| 78 | $1,972 |
| 79 | $1,954 |
| 80 | $1,946 |
According to the table above, retired workers who are 70 years old as of June 30, 2024 will receive the largest adjustments for cost of life in nominal dollars next year. This is because they already receive the greatest benefits from Social Security. Think about it this way: if the average benefit for a retired worker at age 70 is $2,068 per month and the COLA of the Social Security for 2025 it is 2.5%, so the average 70-year-old worker will receive an additional $51.70 monthly next year. No other age group has a large base benefit, so no other age group is going to receive a COLA higher.
Workers who retired at age 70 typically receive the highest benefits in the economy. Social Security. As shown in the box, retiree benefits tend to be higher with each successive age group from 62 to 70, and typically decrease with each successive age group starting at 79. In other words, at one point Given that, retired workers in their 70s typically receive the highest benefits from the Social Security.