But when we look back at the data, it becomes clear that a 2.5% Social Security COLA isn't so terrible. In fact, it's a lot more generous than some of the COLAs beneficiaries have seen in the past. In 2024, Social Security benefits rose by 3.2%. The year prior, they increased by 8.7%. And in 2022, a 5.9% COLA came through.

If you're retired or will be retiring soon, Social Security will likely play a role in your financial future. More than 40% of baby boomers say their benefits will be their primary source of income in retirement,

Even if you're in line for the maximum possible benefit, you might be surprised at how much more you can get by waiting.

Social Security is very popular with Americans. Large majorities of Democrats and Republican like the program and want it to continue with no cuts in benefits, no increase in costs to taxpayers, and no real reforms of any kind.

Social Security's rules are shifting in 2025 -- for better and worse. Seniors might benefit from a boost to their monthly benefits and a higher earnings-test limit. Some workers may be unhappy to learn that their Social Security tax burden is about to soar.