The Social Security cost-of-living adjustment officially goes into effect in December of each year -- so technically speaking, the 2.5% adjustment was the 2024 COLA. However, Social Security benefits are paid one month in arrears, so the December benefit is the monthly payment that is physically received in January.

One positive aspect of Social Security is that the program is set up to adapt to economic changes. Each year, for example, Social Security benefits are eligible for an automatic cost-of-living adjustment.

In 2025, children of a deceased parent who were covered under Social Security may be eligible for survivor benefits. These benefits are crucial in providing financial support to th

Claiming Social Security at 62 is popular strategy because it gives recipients the most checks. At the same time, it reduces the size of their checks by up to 30%. That's because the government penalizes beneficiaries for every month they claim benefits before their full retirement age (FRA),

Fact checked by Giselle Cancio Social Security is many people's primary source of income after retirement, but not everyone will receive the maximum amount. In 2025, lifelong high earners who wait until age 70 to claim their benefits can qualify for up to $5,

If you know a little about Social Security, you may know that you can start collecting your benefits as early as age 62 and that you can delay starting to collect them for a long time. Thus, each of us has a decision to make at some point in our lives regarding when to start collecting Social Security.

Over 162,000 New Jerseyans who are low-income, blind or disabled and rely on payments from the Social Security Administration will see their first paychecks for 2025 this week — and they will include a slight increase in funds.