Social Security Payment Due October 23rd: Will the Check Include a COLA Increase in 2025?

On Wednesday, October 23, the Social Security Administration (SSA) will issue the final round of Social Security checks to beneficiaries born between the 21st and 31st of any month.

Earlier this month, the SSA announced that the COLA in 2025 will be 2.5 percent, meaning benefits will increase by that factor starting next year. It also means the check received by those scheduled to receive it on Thursday will not reflect the increase.

When will the first COLA-adjusted benefits be sent out?

Benefit distributions are based on birthday, meaning Social Security beneficiaries will receive their checks on:

The only exception to this schedule applies to beneficiaries who received payments before May 1997 and those who also receive Supplemental Security Income (SSI), since these beneficiaries receive payments on the third of the month.

How much will the average Social Security check increase in 2025?

The 2.5 percent COLA that will be added to benefits next year is less than what was applied to benefits this year (3.2 percent) and last year (8.7 percent), which is means the dollar increase in benefits will also be smaller.

In August 2024, the average Social Security check for a retiree was $1,920.48, and after accounting for the 2.5 percent increase, the value of the check would increase by $48.01 to $1,968.49.

However, for other categories of beneficiaries the increase will look something like this:

An individual’s benefit amount can be calculated by multiplying the current value of his benefits by 2.5 percent and adding that result to the current value of the benefit.