The first round of January's Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, goes out to the first group of retirees today. Here is all you need to know about this month’s Social Security payments,

Many retirees look forward to Social Security's annual cost-of-living adjustment (COLA), which for 2025 is 2.5%. The COLA technically takes effect in December, with beneficiaries seeing updated payments in January.

Retirees will receive their Social Security checks depending on when their birthday falls, and the checks are sent out in three waves.

Social Security's 2025 cost-of-living adjustment (COLA) took effect in January. Benefits will increase 2.5% this year, the smallest pay bump for seniors since 2021. Indeed, more than half of retired workers surveyed by The Motley Fool in October said the COLA was insufficient.

Here is the January Social Security payment schedule for retirement, disability, and survivor beneficiaries, as well as those who receive Supplemental Security Income (SSI).

The Social Security cost-of-living adjustment, or COLA, for 2025 is a 2.5% increase. That means the monthly benefits checks for more than 72.5 million Americans will see their lowest annual bump in four years.

Social Security recipients will need to wait an extra two months to reach full retirement age starting in 2025. For people born in 1959, the full retirement age will now be 66 years and 10 months. The full retirement age is based on birth year.