The most overt way Social Security beneficiaries preserve their purchasing power against inflation is the annual COLA. However, at only 2.5% for 2025, this is the smallest COLA in several years and might not be enough to offset rising prices. This could prove as a challenge for millions of retirees whose social security benefit stands … Read more
This bill, signed into law by President Joe Biden on January 5, 2025, marked a significant shift in the landscape for Social Security benefits, particularly for public sector retirees. This act essentially does away with two long time provisions: WEP and GPO, long-time provisions which have hitherto reduced the benefits for those who receive pensions … Read more
All Social Security beneficiaries have received their January payments so far. The payment schedule for the month of January 2025 is now complete, with pensioners born between January 21 and 31 being paid on January 22. Remember that the Social Security payment schedule begins on the first day of each month and ends on the … Read more
Each year, the Social Security Administration (SSA) announces a Cost-of-Living Adjustment (COLA) to help beneficiaries keep up with inflation. For retirees and those planning to claim Social Security soon, this adjustment is a critical factor in financial planning. The 2025 COLA increase could bring higher payments, but it may also come with certain financial implications. … Read more
Trump’s Federal Funding Freeze: The recent pause imposed by US President Donald Trump on federal grants and loans has raised concerns about the impact on several important social programs, especially Social Security. But will retirees and other beneficiaries see any interruption in their payments? Here’s what we know so far. Matthew Wyeth, the acting director … Read more
As we move into 2025, adjustments have been made to Social Security and Additional Security Income (SSI) payments based on a cost-of-living increase (COLA) of 2.5%. This increase raises the maximum monthly SSI payment to $967 per individual, $1,450 per couple, and $484 for individuals. However, variations are found across states, which are due to … Read more