Social Security's COLA will be set in October. What this means for retirees

Seniors across the country will soon find out whether they will get a raise next year.

According to investment website The Motley Fool, the Social Security Administration is expected to announce its cost-of-living adjustment (COLA) for 2025 on October 10.

Here's what you need to know.

Increase in Social Security COLA for 2025

The Senior Citizens League is forecasting a 2.5 percent COLA for next year, based on falling consumer price data. The increase would add $48 to the current average monthly pension for retirees of $1,920, according to the league, which describes itself as one of the largest nonpartisan senior citizen groups in the country.