Social Security Benefits Will Increase in 2025 – but This Move Could Put More Money in Your Pocket Than Next Year's COLA
Many seniors rely on Social Security for the bulk of their income. For some retirees, those monthly benefits are their only income source.
That's why it's so important that Social Security be designed to keep up with inflation. And to that end, lawmakers decided back in 1975 that benefits would be subject to an automatic annual cost-of-living adjustment (COLA) pegged to inflation.
Now it's too soon to know what 2025's Social Security COLA will look like. That's because COLAs are calculated based on third quarter data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Source Fool.com
