According to Vibes.okdiario, Social Security has already announced the new payments reflecting the Cost of Living Adjustment (COLA) increase. For your information, some retired workers can expect a check or direct deposit of up to $5,108. However, this new payment will be issued in 2025, so retirees will need to wait to enjoy the 2.5% COLA boost. It’s important to note that the largest Social Security payment for retirees in 2024 is $4,873.