The vast majority of seniors surveyed about Social Security's COLA say the number should be as much as five times higher than the government is forking over this year.

One of the most important aspects of Social Security is that recipients are eligible for a cost-of-living adjustment (COLA) every year. These annual increases are designed to help seniors and those receiving Social Security benefits keep up with inflation.

Social Security cost-of-living adjustment, or COLA, is based on third-quarter inflation data, so it was officially announced in October when the last of the official CPI data from the third quarter was released.

Each year, tens of millions of retirees collecting Social Security benefits anxiously await the upcoming COLA, or cost-of-living-adjustment (COLA). The COLA is a pivotal part of the Social Security program that reflects the next year's increase in Social Security benefits.

SSDI recipients will soon see an increase to their benefits checks when the 2025 COLA goes into effect this January.

Social Security retirement and disability benefits for 2025 will start to roll out for millions of Americans as early as Tuesday and throughout January. Why it matters: Benefits increase by 2.5% and about $50 a month but it's the lowest benefit increase in recent years.

Social Security beneficiaries in the U.S. will see a 2.5% increase in their monthly payments. This adjustment, based on the Cost of Living Adjustment (COLA), aims to counteract inflation's impact on purchasing power.