Social Security benefits will arguably lose buying power next year because the 2.5% COLA understates inflation.

Now, with the year winding down, all Social Security retirees should mark Nov. 20 as another date to remember. Here's why.

In December, SSI recipients will receive their payments a day early – Dec. 31 – because Jan. 1 is the New Year’s Day holiday. These checks will reflect two different amounts because the 2025 Cost of Living Adjustment increase will apply to the payment made on Dec. 31.