We're only a few weeks away from finally learning what the 2025 Social Security cost-of-living adjustment (COLA) will be. Current projections put it around 2.5%, less than the 3.2% beneficiaries got this year. But this could still change a little.

Much of the attention has been on the announcement date itself. But there are also two other key dates to note related to the 2025 COLA.

1. Oct. 10: The Social Security Administration will announce the 2025 COLA

The Social Security Administration will officially announce the 2025 COLA on Oct. 10. This is when we'll get the last piece of information we need to calculate it — the September 2024 Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) figure. The government will average this with the data from July and August and compare it to the average third-quarter data from 2023. The difference will be the COLA.

Technically, the COLA isn't applied directly to your checks. The government applies it to your primary insurance amount (PIA). That's the benefit you would qualify for if you applied for Social Security at your full retirement age (FRA). Then, if you applied at any other time, it adjusts your benefit up or down to calculate your new payment amount for 2025.

However, you can get a pretty good approximation of what your 2025 benefit will be by adding the COLA percentage to your current checks. For example, if the COLA comes in at 2.5% and you're currently receiving $2,000 per month, you'd add another 2.5%, or $50 per month, to your checks in 2025.

2. December 2024: Beneficiaries receive personalized COLA notices

In early December, the Social Security Administration will send personalized notices to all Social Security beneficiaries indicating exactly how much they'll get in 2025. If you've created a my Social Security account by mid-November, you'll be able to view your COLA notice through your Message Center. You can also sign up for an email or text message alert so you know when the notice is available.

The Social Security Administration will also mail out COLA notices throughout December. Getting these notices to millions of beneficiaries takes time, though, so the Social Security Administration asks that you don't contact it regarding missing COLA notices until January 2025.

3. Jan. 8/15/22, 2025: First checks with the 2025 COLA included go out

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:

  • Born on the 1st through the 10th of a month: Jan. 8, 2025
  • Born on the 11th through the 20th of a month: Jan. 15, 2025
  • Born on the 21st through the 31st of a month: Jan. 22, 2025

Beneficiaries will continue to receive payments on either the second, third, or fourth Wednesday of every month based on their birthdate.

Those receiving Supplemental Security Income (SSI) will see a bump to these checks even sooner. These benefits are usually paid on the first of the month, but since Jan. 1, 2025, is a federal holiday, these checks will go out on Dec. 31, 2024.

Once you know how much you'll get from Social Security (and possibly SSI) in 2025, you can begin to plan your budget for next year. If you have any questions about how the COLA will affect your checks, you can contact the Social Security Administration. But consider waiting until you've received your COLA notice in December, as this might answer a lot of questions.

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