Social Security is a valuable source of income for tens of millions of retired workers, disabled workers, spouses of workers, and more. And with pensions declining in popularity in recent years, Social Security is the only source of inflation-protected income many retirees have,

Social Security has been the foundation of retirement income for millions of Americans, but as 2025 unfolds, retirees face growing concerns about its future. Rising costs, potential benefit adjustments and policy changes are all shaping the conversation.

When you’ve worked for many years, it’s unsurprising that retirement feels like the pot of gold at the end of the rainbow. However, those planning to retire at age 65 may need to reevaluate their current plan as Social Security is raising the retirement age this year.

During his campaign, President Trump wrote on social media, "Seniors should not pay tax on Social Security." He has doubled down on that promise since the election. In February, White House press secretary Karoline Leavitt said President Trump would implement the "largest tax cut in history," including the elimination of taxes on Social Security.

Over the last 20 years, the cost-of-living adjustment has averaged 2.6%, according to the Senior Citizens League.

The process behind calculating the COLA remains a mystery to many. Here's what every retiree should know about how the COLA is determined and what changes might be on the horizon.