Those who receive Supplemental Security Income will be the first to receive the increase benefit starting later this month.

Here's when 2025's Social Security Cost of Living Adjustment increases will go into effect. The increase is the agency's lowest in years.

Social Security is the major source of income for people over the age of 65, with an average monthly benefit of $1,918 a month. People with medical conditions that affect their ability to work for 12 months or longer may also receive Social Security benefits through Social Security Disability Insurance (SSDI).