Social Security Recipients to Get 2.5 Percent Cost-of-Living Boost in 2025

The SSA also announced adjustments to the maximum amount of earnings subject to Social Security tax.

The logo of the US Social Security Administration outside a Social Security building in Burbank, Calif., on Nov. 5, 2020. Valerie Macon/AFP via Getty Images

The Social Security Administration (SSA) announced on Oct. 10 that Social Security benefits and supplemental security income (SSI) payments will increase by 2.5 percent in 2025.

The cost-of-living adjustment (COLA) will affect more than 72.5 million Americans, providing an average increase of about $50 per month for Social Security retirement beneficiaries starting in January, the agency said in a statement.