The Cost of Living Adjustment, more commonly known as COLA, increases benefits administered by the SSA on a yearly basis. The COLA is designed to keep Social Security retirement, survivor and disability payments in line with inflation, so that purchasing power is not eroded over time.

Social Security recipients will get a smaller cost-of-living adjustment in 2025 than they received this year. We'll lay it all out for you.

Social Security benefits and Supplemental Security Income payments will increase for more than 72.5 million Americans, but the increase is modest.