Less than six weeks remain before retirees will get a raise. Last month, the Social Security Administration announced that the next cost-of-living adjustment (COLA) will be 2.5%. The adjustment takes effect on Jan.

Seniors awaiting bigger Social Security checks next year may be shocked to discover higher Medicare premiums will eat up a chunk of their cost-of-living adjustment.

Various news stories about Social Security have made headlines throughout the year, ranging from questions concerning its solvency to arguments over how the program should be funded. Particulars

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

A 2.5% cost-of-living adjustment, Medicare Part B premiums and tax liabilities are key changes to watch for that affect 2025 Social Security benefits.

The first piece of good news is that beneficiaries will see a 2.5% bump in benefits beginning in January, thanks to the cost-of-living adjustment (COLA). The average retiree collects just over $1,900 per month in benefits, which amounts to a raise of roughly $50 per month.

The Centers for Medicare and Medicaid Services (CMS) announced the 2025 inflation-adjusted amounts for Medicare Parts A, B, and D. The base monthly premium for Part B will be $185.00, an increase of $10.