Maximum benefits increase too, and in 2025, the maximum benefit will exceed $5,000 for the first time. It came close in 2024 with a maximum benefit of $4,873. But next year's top Social Security beneficiaries will receive $5,108 per month. That's nearly $62,000 annually.

With a little more than a month before the 2025 COLA kicks in, here's what you should know about the upcoming adjustment.

Last month, the Social Security Administration announced that the next cost-of-living adjustment (COLA) will be 2.5%. Here's why the average take-home Social Security increase will be roughly 20% lower than they might expect.

Last month, the Social Security Administration announced the cost-of-living adjustment for 2025. Beginning in January, beneficiaries will receive a 2.5% raise -- amounting to around $48 per month for the average retiree and roughly $39 per month for the average disabled worker.

Millions of Americans will see changes to their benefits in the New Year. There will be an increase of 2.5 percent for retirees and those on disability benefits