The Social Security Administration (SSA) is making big changes to payment schedules in 2025. This means more money for millions of people who get Social Security benefits. These changes will affect retirees, survivors, disabled people, and those who get Supplemental Security Income (SSI). It’s important for them to know about these changes so they can plan their money well for the coming year.
In January 2025, people will get more money because of a 2.5% Cost of Living Adjustment (COLA). This increase is to help them keep up with the rising costs of things like food, healthcare, and housing. It’s good because it means their money can still buy the same things even as prices go up.
The Social Security Administration gives out payments for Retirement, Survivors, and Disability Insurance (RSDI), and SSI. The payments will be given out in five rounds throughout January, depending on when they were born. This helps people plan their budget better and use the extra money wisely.
Vocabulary List:
- Administration /ədˌmɪn.ɪˈstreɪ.ʃən/ (noun): The management or organization of affairs.
- Adjustment /əˈdʒʌst.mənt/ (noun): A small alteration or movement made to achieve a desired fit or result.
- Retirees /rɪˈtɪə.riːz/ (noun): People who have stopped working after reaching a certain age or after leaving their job.
- Beneficiaries /ˌben.ɪˈfɪʃ.ier.iz/ (noun): Individuals who receive benefits from a particular program or system.
- Supplemental /ˌsʌp.lɪˈmen.təl/ (adjective): Added to something especially to make it complete or add to it.
- Sustainable /səˈsteɪ.nə.bəl/ (adjective): Capable of being maintained or continued without depleting resources.
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