December’s Supplemental Security Income payment, worth up to $943, will go out to millions of people in six days. The next set of SSI payments will be distributed on Nov. 29 because Dec. 1 is a Sunday.

An important aspect of Social Security benefits is the monthly payouts increase they receive in most years to (somewhat) keep up with inflation. This is called the Social Security cost-of-living adjustment (COLA).

The reason Social Security benefits are eligible for an automatic cost-of-living adjustment (COLA) each year is that without an inflation-based boost, seniors would be guaranteed to lose buying power from one year to the next.

Social Security beneficiaries will see a 2.5% increase in their benefits starting in 2025. This cost-of-living adjustment (COLA) is the lowest since January 2021, which saw a 1.3% adjustment. The average recipient will see an increase of about $50 per month.