If you are 62 or older and depend on Social Security or Supplemental Security Income (SSI) benefits, you may have seen reports claiming a $600 boost is coming in November 2025, but is it true? Here’s what you need to know.
While this figure has gained traction online, the reality is more nuanced as the Social Security Administration (SSA) has announced a 2.8% Cost-of-Living Adjustment (COLA) for 2026, but that increase will not come as a one-time payment.
The COLA is an annual adjustment applied to Social Security and SSI benefits to ensure that payments keep up with inflation. It is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), comparing the third quarter of one year to the same period of the previous year.
This mechanism helps protect the purchasing power of millions of Americans, particularly retirees who rely on fixed incomes so instead, the 2.8% translates into an average rise of roughly $56 per month, starting in January 2026.
This means the average single retiree will receive approximately $2071 per month in 2026. Around 71 million Social Security recipients and an additional 7.5 million SSI beneficiaries will benefit from the adjustment.
In addition, the maximum taxable earnings cap will rise to $184,500, and the earnings limit for those claiming benefits before full retirement age will be $24,480 in 2026.
How does this impact the $600 bonus claim?
There has been considerable speculation about a $600 Social Security payment arriving in November 2025. However, there is no one-time bonus of this amount. The idea likely stems from a misunderstanding of the annual COLA increase.
When multiplied over 12 months, the 2.8% rise equals roughly $672 for the average retiree, giving the impression of a lump-sum “bonus.”
In truth, this increase is spread across monthly benefit payments and will appear automatically starting in January 2026 for Social Security recipients and December 31, 2025, for SSI beneficiaries.
“The COLA increase is built into your monthly benefit checks, not paid as a separate bonus,” the SSA said, this clarification being important for retirees managing expectations about their end-of-year payments.
In summary, while there is no $600 one-time payment coming in November 2025, the 2.8% COLA for 2026 does offer meaningful support against rising living costs.
For most retirees, it means an extra $56 per month-or nearly $670 more over the year-helping maintain stability amid inflation. Staying informed and adjusting your financial plan accordingly will help ensure that this increase works to your advantage.
What could impact the value of COLA?
Although the COLA brings welcome relief, several financial factors may diminish its overall impact. Higher Medicare Part B and Part D premiums, for example, are deducted from many retirees’ Social Security payments and can offset part of the gain.
Additionally, federal and state taxes may apply if higher benefits push recipients into taxable income ranges.
Those who continue working while drawing benefits should also monitor earnings carefully to avoid reductions under SSA’s income test.
“A modest increase can still make a meaningful difference,” financial planners note, “but retirees should plan ahead for offsetting costs.”
The SSA will mail a “COLA Notice” to beneficiaries by early December 2025, outlining the updated monthly amount.
For most recipients, the higher benefit will appear automatically in their January 2026 payment. SSI beneficiaries will see their adjusted payment on December 31, 2025.