Also, national pollster Gallup has shown that as many as 90% of surveyed retirees said they rely on their Social Security income, in some capacity, to pay their bills.

Based on inflation, the latest projections for Social Security’s 2025 cost-of-living adjustment, or COLA, put is in the area of 2.6%, or about $45 per month for the average beneficiary.

Thankfully, Social Security benefits cannot be adjusted downward in that situation. The worst that can happen is that they won't increase from one year to the next year. But either way, even if 2025's COLA comes in at under 2%, it probably won't be the lowest raise on record by far.

Social Security benefits have (arguably) lost buying power over the last decade due to a flaw in the way cost-of-living adjustments (COLAs) are calculated.

Could your Social Security check jump in 2025? Learn about a proposal to adjust COLA calculations and potential impact on benefits.