The annual cost of living adjustment (COLA) by the Social Security Administration (SSA) to Social Security payments for 2025 is expected to be 2.5%, the smallest COLA increase in the past three years.

There's a reason Social Security benefits are eligible for an annual cost-of-living adjustment (COLA). If benefits were to remain flat from year to year, seniors would lose buying power over time due to inflation.

Technically, the Social Security Administration will apply the 2025 COLA to your December 2024 payment. But since you receive Social Security checks in the month after the month they're due, you won't get your first payment with the COLA until January 2025. The exact date depends on the day of the month you were born, as follows: