Social Security

Claiming Social Security at 62 may feel like the obvious move, especially as concerns over the program's long-term funding grow. But experts say locking in benefits too early could permanently shrink retirement income and cost retirees thousands over time. Under Social Security Administration...

Social Security beneficiaries could face a 22% reduction in scheduled retirement benefits after 2032, according to the Social Security Board of Trustees’ annual report released Tuesday. The trustees said the Social Security trust fund that pays retirement and survivor benefits is projected to...

Americans who receive Social Security retirement benefits could see checks cut by about $500 a month on average if the program reaches its projected insolvency date in late 2032 without action from Congress, according to a new analysis from the Committee for a Responsible Federal Budget. Projected...

Older Americans are facing growing financial pressure and increasingly relying on Social Security, prompting AARP to urge Congress to strengthen the program ahead of a key funding deadline. New research from AARP found that 37% of Americans age 50 and older feel financially insecure, while 60%...

Americans remain sharply divided on how to prevent Social Security from running short of money as the program's projected 2032 funding deadline approaches, according to a new Ronald Reagan Institute survey reviewed by FOX Business. The poll found broad opposition to many proposed Social Security...

In light of the escalating inflation and the ongoing Iran war, a significant rise in Social Security’s cost-of-living adjustment (COLA) is expected in 2027. The Senior Citizens League now expects the 2027 Social Security COLA to rise 3.9%, up from its earlier 2.8% forecast, but warned higher...

A record 62% of retired Americans now rely on Social Security as a major source of income, according to Gallup's latest Economy and Personal Finance survey released Wednesday. The figure ties last year's record high and significantly exceeds every other retirement income source tracked in the...

For retirees, the age at which you claim Social Security can dramatically affect lifetime benefits. Choosing too early can reduce monthly payments by hundreds of dollars, potentially costing tens of thousands over time. Understanding The ‘Breakeven’ Age The "breakeven age" is when...

Millions of Americans are receiving Social Security payments this week, including retirement, disability, and survivor benefits. The Social Security Administration (SSA) distributes payments on a staggered schedule. Supplemental Security Income (SSI) goes out on April 1, while combined SSI and...

A Senate Budget Committee hearing this week put Social Security’s funding crisis back in focus, with Sen. Bill Cassidy (R-La.) warning on Thursday that inaction could force benefit cuts of up to 28% or push U.S. debt to dangerously high levels. Funding Cliff Raises Alarm More than 70 million...

BlackRock Inc. (NYSE:BLK) CEO and Chair Larry Fink said Social Security remains “one of the most effective poverty-prevention programs in history” but fails to help Americans build long-term wealth. “The issue is: Social Security provides stability, but it doesn’t allow most...

Retirees in some states collect much larger Social Security checks, but averages still hover near $2,000 a month nationwide, new federal data show. High-Benefit States Lead Social Security Rankings The Social Security Administration's 2025 Annual Statistical Supplement uses December 2024 records to...

New rules are set to be implemented in the Social Security program in 2026, bringing changes to benefits, cost-of-living adjustments (COLA), taxes, and Medicare. These changes are expected to affect millions of older Americans who depend on the program. What Happened: The Social Security continues...

Social Security payments will land on unusual dates this December, but beneficiaries won't lose a month's check and instead will see some money earlier than usual. Calendar Brings Double SSI Payments In Winter For the roughly 7.5 million people on Supplemental Security Income (SSI), the calendar...

The Trump administration has dropped a proposed rule that would have made it harder for older Americans to qualify for Social Security disability benefits, backing away after weeks of criticism from advocates and lawmakers who warned of large-scale denials. Advocates Push Back, White House Retreats...