Two Social Security rules can take a big bite out of the benefits of pensioners and their spouses, ex-spouses and survivors.

If you've been claiming Social Security benefits for more than a few months, you saw your checks increase by 2.5% at the start of the year thanks to the 2025 cost-of-living adjustment (COLA). Most Social Security beneficiaries will have to wait until January 2026 for their next benefit increase.

Key Points While the majority of retirees collect Social Security, most people don’t understand how it works. Only one in five Americans say they understand Social Security well. Even fewer actually get important questions correct about their

The reason most retirees can't collect the maximum Social Security benefit is that their earnings aren't high enough to snag it. To get that payday, your earnings need to meet or exceed the Social Security wage cap for 35 years. And while that cap is adjusted annually, it currently sits at $176,100.

All financial plans are important, but Social Security benefits play a profound role in preventing elderly poverty and are paid out at an important stage in a person's life. Find Out: 8

Deciding whether to claim Social Security benefits while still working is a multifaceted decision with significant financial implications. This choice requires careful consideration of both immediate and long-term effects,

If you're claiming benefits based on your spouse's earnings record, they must also actively collect benefits for you to be eligible for spousal benefits. That means if your spouse hasn't started Social Security, or has stopped receiving Social Security for some reason, you're not eligible to receive spousal benefits in most cases.