In October 2024, the Social Security Administration (SSA) officially confirmed the 2025 Cost of Living Adjustment (COLA), which will bring a 2.5% increase to Social Security benefits.
Although many retirees and Social Security beneficiaries expected a larger boost, the adjustment still offers some relief, especially for survivor benefits. Survivor benefits provide crucial financial support to widows, widowers, and children who have lost a family member.
In this article, we’ll explain how the 2025 COLA impacts survivor benefits and average payments after the increase.
The 2025 COLA Increase for Survivor Benefits
The 2.5% COLA increase applies to all types of Social Security benefits, including survivor benefits. Survivor benefits are payments made to eligible family members of deceased workers. These payments help families maintain financial stability after losing a breadwinner.
For survivors, including widowed mothers and children or aged widows or widowers, this increase means higher monthly payments starting in January 2025.
Average Survivor Benefit Payments After 2025 COLA
The exact amount of survivor benefits varies depending on several factors, including the earnings of the deceased and the number of eligible family members. Let’s look at some examples of how the 2025 COLA will affect these payments:
- Widowed Mother with Two Children
- Before the 2025 COLA, the average monthly payment for a widowed mother with two children was $3,669. With the 2.5% COLA increase, this payment will rise to approximately $3,761. This represents a $92 increase in monthly benefits.
- Aged Widow or Widower (No Eligible Children)
- An aged widow or widower who receives survivor benefits without any eligible children currently receives an average of $1,788 per month. After the 2025 COLA, this amount will increase to around $1,832, providing a $44 increase in monthly payments. Over the course of a year, this would add up to an extra $528.
How to Calculate Your New Survivor Benefits After COLA
If your survivor benefits differ from these averages, you can calculate the 2.5% COLA increase based on your current payments. For every $100 you currently receive, you will get an additional $2.50.
For example, if your monthly survivor benefit is $1,000, you would receive an extra $25 per month, making your new payment $1,025.You can also check your updated benefit amount by logging into your My Social Security account.
The 2025 COLA increase may be smaller than some expected, but it still significantly boosts Social Security survivor benefits. Whether you are a widowed parent with children or an aged widow or widower, you can expect to see a 2.5% increase in your payments starting in January 2025.
Keep an eye on your updated benefit amounts and make sure to calculate any changes based on your specific payments to better plan your financial future.
FAQs
The 2025 COLA increase will take effect in January 2025, with the first payments reflecting the adjustment arriving at the beginning of the month.
The 2025 COLA increase is 2.5%, which will raise survivor benefit payments by that percentage starting in January.
After the 2025 COLA, the average monthly payment for a widowed mother with two children will increase to $3,761.
An aged widow or widower will see their average payment rise from $1,788 to $1,832, resulting in an additional $44 per month.
You can check your updated benefit amount by logging into your my Social Security account online or calculating it manually by adding 2.5% to your current monthly payment.
