With the announcement of the 2025 Cost-of-Living Adjustment, next year's COLA will officially do something seniors of this generation have never seen.

Social Security averages the CPI-W data for July, August, and September and compares it to the previous year's number. If the number is higher than the previous year's, the increase becomes the COLA. If the number is lower than the previous year's, Social Security doesn't reduce monthly benefits -- they remain the same.

This double SSI check is due to Dec. 1 falling on a Sunday this year. Recipients, who usually receive their checks the first of the month, will get their November payment on Nov. 1, and their SSI payments for December will be distributed on Friday, Nov. 29, according to the SSA calendar.

A Social Security cost of living increase offers retirees options such as managing costs, saving or enjoying small splurges.