Cost-of-Living Adjustment (COLA) Increase Beneficiaries will receive a 2.5% COLA in 2025, the smallest raise in recent years, leaving many older Americans disappointed.
Full Retirement Age (FRA) Adjustment The FRA has increased to 67 for individuals born in 1960 or later. This means those turning 65 in 2025 will need to wait two more years to claim full benefits. Early claiming is still available from age 62 but with reduced benefits.
Repeal of the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) The Social Security Fairness Act, signed into law on January 5, 2025, eliminates the WEP and GPO.
Changes in Benefit Payment Dates Some beneficiaries will experience adjustments in payment schedules. For instance, due to calendar variations, certain recipients may receive double payments in February 2025, with the next payment not until April.
Administrative Changes and Office Closures The Social Security Administration (SSA) is undergoing administrative restructuring, including the closure of certain field offices to reduce operational costs. This may affect in-person services, prompting beneficiaries to utilize online resources or contact centers for assistance.
Potential Benefit Adjustments Amidst Economic Changes Economic factors and legislative decisions may influence benefit amounts and eligibility criteria. It's crucial for beneficiaries to stay updated on policy changes that could affect their Social Security income.