2025 social security cola increase : SSDI (Social Security Disability Insurance) recipients are eagerly anticipating the 2025 Cost-of-Living Adjustment (COLA) increase, set to provide a boost in monthly payments starting in January 2025. While the official COLA figure won’t be released until October 10, 2024, early projections from The Senior Citizens League, a leading nonpartisan seniors’ group, estimate a COLA of around 2.57% for the upcoming year.
SSDI 2025 COLA Projections: How Does It Compare?
The expected 2.57% COLA for 2025 is a modest adjustment compared to previous years. Here’s how it stacks up:
- 2024 COLA: 3.20%
- 2023 COLA: 8.70%
- 2022 COLA: 5.90%
- 2021 COLA: 1.30%
While the projected 2.57% increase may seem modest, especially when compared to the substantial 8.70% rise in 2023, it still offers SSDI recipients a boost amid inflationary pressures. It also provides an opportunity for recipients to use the extra funds to build a financial cushion, such as an emergency fund.
What Could the 2025 SSDI Payments Look Like?
With a projected 2.57% COLA, SSDI recipients can expect their monthly payments to rise accordingly. Here’s a breakdown of how this increase could affect different SSDI payments:
- Average SSDI Payment: The current average SSDI benefit is $1,538 per month. After the 2.57% COLA increase, the new payment would be approximately $1,577, an increase of around $39.
- Higher SSDI Payments: For those receiving $2,000 in SSDI, the new payment would be…
