Below are the latest expert predictions for what the 2025 COLA could be as of September 2024. For more, don't miss how to apply for Supplemental Security Income and how to estimate how much in Social Security benefits you could receive .

For a majority of Americans, Social Security income is an absolute necessity during retirement. In each of the last 23 years, national pollster Gallup has surveyed retirees to gauge how reliant they are on their Social Security check.

The latest cost-of-living-adjustment estimate for Social Security benefits next year is expected to be about 2.5%, according to the nonpartisan Senior Citizens League

Oct. 10 is when September's CPI-W reading is scheduled to be released. Once that happens, the SSA should be able to announce a number of key changes to the program for 2025, including not just an official COLA, but a new earnings-test limit and wage cap.

The inflation data for August gives us a pretty good idea about the likely magnitude of Social Security’s cost-of-living adjustment (COLA) for 2025. This automatic indexing of benefits to keep up with rising prices — always a wonderful feature of our Social Security program — has been particularly valuable in light of the recent bout of inflation.

The purpose of COLAs is to help Social Security beneficiaries maintain their buying power in the face of inflation. Over time, living costs tend to rise naturally. Keeping Social Security payments stagnant would likely force those who rely on them into poverty through the years.

Seniors collecting Social Security receive a raise almost every year to help their checks keep up with the rising cost of living. The government is still a few weeks away from finalizing the numbers to calculate next year's cost-of-living adjustment,