Social Security Benefits Update for 2025

What is the percentage increase in Social Security benefits for 2025?

• 3.2%

• 2.5%

• 8.7%

• 5.0%

Which index is used to calculate the annual increase in Social Security benefits?

• Employment Cost Index (ECI)

• Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)

• Gross Domestic Product (GDP)

• Producer Price Index (PPI)

What was the COLA increase percentage in 2023?

• 2.5%

• 5.0%

• 3.2%

• 8.7%

What is the main reason for the smaller COLA increase in 2025 compared to previous years?

• Lower healthcare costs

• Higher employment rates

• Increased government funding

• Easing inflation

How much will the average monthly Social Security benefit increase in January 2025?

• $52

• $49

• $50

• $51

When will people who started collecting Social Security before May 1997 receive their new COLA?

• January 3rd

• January 8th

• January 15th

• January 22nd

What is the benefit of having a My Social Security account?

• Additional healthcare benefits

• Priority in payment schedule

• Higher benefit amounts

• Faster and more secure access to updates

When can you check your updated benefit amount online?

• In March

• In February

• As early as December

• In January

Why do some groups advocate for a different method to calculate COLA?

• To decrease the overall percentage

• To account for higher healthcare costs

• To increase the overall percentage

• To simplify the calculation process

What is one of the unique features of Social Security benefits?

• They are only available to retirees

• They decrease over time

• They are fixed and do not change

• They adjust annually to reflect changes in the cost of living