The second round of November’s Social Security payments, worth up to $4,873 for the highest-income earners who retire at age 70, will go out to the second group of retirees in one days. Here is everything you need to know about this month’s Social Security payments.

An important aspect of Social Security benefits is the monthly payouts increase they receive in most years to (somewhat) keep up with inflation. This is called the Social Security cost-of-living adjustment (COLA).

Social Security beneficiaries will see a 2.5% increase in their benefits starting in 2025. This cost-of-living adjustment (COLA) is the lowest since January 2021, which saw a 1.3% adjustment. The average recipient will see an increase of about $50 per month.