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The latest 2025 COLA estimates
The latest 2025 Social Security COLA predictions are out, and it seems to be on track to be less than this year’s 3.2 percent; however, the official announcement is not until mid-October. Analysis by the Senior Citizens League estimates the 2025 COLA could be 2.4 percent, close to the average COLA over the last 20 years of 2.6 percent. Jessica Hall reports on the latest 2025 Social Security COLA estimates. Read Ms. Hall’s article here…
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I there anyway I can get an increase on my monthly benefit?
Jose
It depends on a few factors. Your age, if you are under 70 but have reached your full retirement age (FRA) you can suspend your Social Security benefits and they will begin accruing delayed retirement credits (DRCs) at the rate of 2/3 of 1% per month, up to 8% per year on the current amount you are receiving. Your benefit amount is based on your 35 years of highest earnings, after they have been adjusted for inflation through age 59. If you are still working, and your current earnings are higher than any of the earnings currently included in determining the amount of your benefit, or you don’t have 35 years, your current earnings will replace one of those years and your benefit will increase slightly. Otherwise, the only thing that will increase your Social Security benefit amount is the annual cost-of-living increase (COLA), if there is one.
If you have further questions, please feel free to contact us directly at [email protected], or call us at 1.888.750.2622.
Sharon Kleczka
National Social Security Advisor
The AMAC Foundation
I feel that seniors have given their lives and they deserve every penny that is due them. The richer gets richer and the poor and poorer continue to get to the poorest state in life.
Gwendolyn:
Thank you for your comments. Please note that AMAC is addressing the very issues you raise in your concerns, with portions of its Social Security Guarantee aimed at extending the program’s progressive design via specific recommendations that would reshape how benefits are directed. For example, one change we recommend is to implement an average dollar cost-of-living adjustment rather than a percentage, a move that would increase the amount of the annual adjustment for lower income folks and decrease the amount for higher earners. Other recommendations address the program’s internal calculations, with specific intent to preserve benefits for lower income folks while at least partially limiting growth in benefits for higher earners.
I encourage you to view the AMAC Social Security Guarantee on the AMAC.us website (www.AMAC.us/Social-Security), and contact us if you have any questions about the recommendations.
Again, thank you for your comments!
Gerry Hafer
AMAC Foundation Social Security Advisor
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