Every October, the Social Security Administration (SSA) announces how much more seniors will receive from the government program the next year due to inflation. The COLA for 2025 will be 2.5%, which is a big step down from the increases received for the last three years.

New York — Tens of millions of older Americans will see an increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments.

Tens of millions of Social Security recipients will learn Thursday how big a cost-of-living boost they’ll get to their benefits next year.

Inflation has fallen from the four-decade high it reached in 2022, but the price increases that scorched the economy following the pandemic are still a source of hardship for many retired workers. Consider these statistics from the Schroders 2024 U.S. Retirement Survey: Fewer than 50% of retired workers believe they have enough money saved.

The Social Security Administration said Thursday that payments would increase 2.5% in 2025, starting with benefits paid in January.

Here’s what you need to know about Social Security benefits and taxes. The government program provides financial assistance to Americans throughout their lives, including retirement. Social Security is the major source of income for people over the age of 65,

A recent survey from the Motley Fool shows 50% of retirees have considered going back to work to make ends meet.

Social Security announced changes that will affect the amount of money current and future retirees have next year.

Despite Social Security's wide reach, a small but vulnerable group of elderly Americans never receives its benefits.