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News in English (USA) / 10.10.2024 / 19:00

Social Security Administration Announces Smaller 2.5% Cost-of-Living Adjustment for 2025

The Social Security Administration has announced a 2.5% cost-of-living adjustment (COLA) for 2025, marking the lowest increase since 2021. This adjustment means that senior citizens and disabled veterans will only receive a modest boost in their monthly benefits, which many recipients feel will not significantly alleviate their financial challenges. The increase in Social Security benefits has raised concerns among retirees, as it comes amid rising living costs and economic pressures. With many feeling that this adjustment won't adequately support them, the administration has set expectations for this year's changes, particularly for those relying heavily on these benefits.
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