Greater Nashua

The Social Security Administration recently announced that Social Security benefits and Supplemental Security Income payments for more than 72.5 million Americans will increase 2.5 percent next year. This will result in an additional $50 per month starting in January. During the past decade, the cost-of-living adjustment increase has averaged about 2.6 percent. Increased payments to nearly 7.5 million people receiving SSI will begin on Dec. 31. “Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool,” said Social Security Commissioner Martin O'Malley. Some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax is slated to ...