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Social Security COLA for 2025 and why some will get 2 checks

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If you're an SSI recipient, you could see up to three Social Security checks next month. But budget them carefully. Anyone who gets this windfall in November will not receive any SSI checks in December thanks to a calendar quirk.

And all Social Security recipients will see a slight increase – 2.5% – in their checks next year thanks to a cost of living adjustment (COLA) announced earlier this month. But it will be the smallest increase since 2021, compared to the 3.2% rise in 2024.

According to AARP, this affects nearly one in five Florida retirees, dependents, veterans and other Social Security benefit recipients.

Here's what you need to know:

How much will Social Security recipients receive in 2025 with COLA increase?

The 2.5% increase begins in January for nearly 68 million Social Security recipients. An average beneficiary will see a $50 increase, from $1,907 in January 2024 to $1,957 in January 2025.

That would be $23,484 for the year.

Which Social Security recipients will receive an additional check in November?

According to reports from CBS News, not all Social Security recipients will receive an additional check next month, but many people who have Supplementary Security Income (SSI) will. Recipients who keep track of the Social Security Administration's payment schedule are used to this sort of thing.

SSI payments – additional payments over and above Social Security for people with little or no income and very limited resources – are made on the first business day of each month. The November payment will be made on November 1st, but since December 1st falls on a Sunday this year, the SSI payment for this month will be mailed on Friday, November 29th.

If you're a Social Security recipient who also receives SSI, that means you'll see three checks in November (your monthly Social Security check plus two SSI checks) and only one in December.

What does a COLA cover? Has it kept up with the cost of living?

An adjustment to the cost of living in social security should help ensure that people's purchasing power does not fall due to inflation. However, this was not the case. According to an AARP survey of 1,000 adults age 50 and older, 83 percent of older adults said in August that a COLA of less than 3 percent would not be enough.

According to the Census Bureau's Supplemental Poverty Measurement Report, people ages 65 and older are the only group to see an annual increase in poverty since 2020. In 2023, 14.2% of seniors lived in poverty, up from 14.1% the previous year, 10.7% in 2021 and 9.5% in 2020, the Census Bureau said. It's also the highest percentage since 2016, at 14.5%, USA TODAY reports.

“The Social Security Administration has been very open and honest in saying that if action is not taken soon, it may not be able to provide full benefits to retirees down the road,” said Mike Lynch, retirement planning expert and chief executive of Applied Insights at Hartford Funds. “Our elected leaders must take action.”

What is the cost of living in Florida?

According to the Bureau of Economic Analysis, the cost of living has continued to rise, with jumps in health care, food, housing and utilities, even as prices for gasoline and other energy goods have fallen. According to the latest report, Florida experienced an 8.1% increase in personal consumption expenditure (PCE) from 2022 to 2023.

Although it would vary from city to city, the average per capita PCE in Florida was $60,204 last year. The average annual spending per capita last year was:

  • Housing and supplies: $12,191
  • Health care: $8,996
  • Groceries: $4,736
  • Gasoline and other energy goods: $1,168
  • All other personal consumption expenditures: $33,112

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