Portra | E+ | Getty ImagesMore than 72.5 million Americans will see a 2.
5% cost-of-living adjustment to benefit payments in 2025, the Social Security Administration announced on Thursday.
With the change, Social Security retirement benefits will increase by about $50 per month on average starting in January, according to the agency.
The Social Security Administration first announced the change on Thursday morning via its press office feed on X and confirmed the news to CNBC by phone.
The Social Security cost-of-living adjustment for 2025 is the lowest annual increase since 2021, when beneficiaries saw a 1.
3% increase to benefits.
For about 40% of older Americans, Social Security is their primary source of income, according to the AARP.
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