But when we look back at the data, it becomes clear that a 2.5% Social Security COLA isn't so terrible. In fact, it's a lot more generous than some of the COLAs beneficiaries have seen in the past. In 2024, Social Security benefits rose by 3.2%. The year prior, they increased by 8.7%. And in 2022, a 5.9% COLA came through.

Social Security beneficiaries will soon experience a welcome change when benefits climb due to a cost-of-living adjustment.

Even if you're in line for the maximum possible benefit, you might be surprised at how much more you can get by waiting.

The average couple receiving Social Security benefits in 2024 takes home $3,014 per month. Fortunately, that inflation has cooled, but that also means a smaller cost-of-living adjustment (COLA) next year for retirees.

Social Security is a vital program that provides financial support to millions of Americans. In 2024, the Social Security Administration (SSA) will pay out $1.5 trillion in benefits to about 70 million people.

A new year brings new changes to the Social Security program. While many of these changes are minor, they can still affect the size of your monthly payments. Most retirees will benefit from these adjustments,

Social Security has been in the news a lot given the program's financial shakiness and the potential for benefit cuts. And whenever there's an election, Social Security tends to be a big issue for politicians to discuss.