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It may decrease their Social Security payments by up to half the value of their pension. For example, Michelle Cosgrove's benefits will be cut nearly in half — reduced by $557, to $601.
Despite an 8.7% increase in Social Security payments in 2023, seniors are still contending with a big shortfall from 2022, amid inflation and their Social Security payments.
Social Security benefits received a 2.5% cost-of-living adjustment (COLA) in 2025, but for many retirees, this is not enough to keep up with rising prices. Their monthly checks don't go as far as ...
A whopping 66% of U.S. adults are unaware that Social Security benefits are protected against inflation, according to a 2024 report from the Nationwide Retirement Institute.
Image source: Getty Images. 1. Social Security benefits will get a cost-of-living adjustment to account for inflation in 2025. Nationwide Retirement Institute reports that 66% of surveyed adults ...
As inflation ticks down, Social Security payments could decrease too, due to a lessened cost-of-living adjustment (COLA). While falling inflation is good news in theory, it hasn’t yet shown up ...
On Oct. 10, following the release of the final puzzle piece needed to calculate Social Security's 2025 COLA (the September inflation report), the SSA announced that beneficiaries would see their ...
After all, leaving the workforce can increase feelings of isolation, loneliness and a lack of purpose for many older Americans. According to the Vox piece, the median age of an American in the ...