The Social Security Board of Trustees Just Updated Its 2026 Cost-of-Living Adjustment (COLA) Forecast. Here's How Much Your Benefits Could Increase. The Board of Trustees thinks retirees will get a bigger bump in 2026 than it thought a year ago.

Senator Bill Cassidy on Friday proposed significant changes to Social Security to prevent the agency's impending insolvency.In an interview on CNBC's Squawk Box, he said the Social Security fund is currently invested in Treasury bonds,

President Donald Trump has long touted eliminating taxes on Social Security. His administration says he has achieved it, but the bill says otherwise.

With concerns over Social Security high, seniors may benefit by supplementing their income with one of these options.

Starting in August, the Social Security Administration (SSA) will claw back overpayments, potentially reducing recipients’ checks by as much as half. Those who received a letter from the SSA regarding overpayment may need to rebudget their expenses as the agency moves to recoup excess funds.

The same approach could work again: thoughtful, phased reforms that maintain the program’s core protections. Ideas on the table include lifting the payroll tax cap (currently $176,100), gradually raising the 6.2% FICA rate, or making more forms of compensation subject to payroll taxes—similar to how TSP contributions are treated.

And, your Social Security benefits are also protected from most creditors under federal law. Credit card companies and debt collectors generally can't garnish your Social Security payments to recoup what's owed. Because of this, some people on fixed incomes choose not to pursue debt forgiveness.

Social Security benefits end when you die, unless you have a qualifying beneficiary who would begin to receive survivorship benefits.

If you can keep working while looking after your health, do it. You get 100% of your Social Security benefit at full retirement age, which is 67 for anyone born in 1960 or after, and you receive a lesser amount if you claim at any time from the age of 62 until full retirement age. If you wait until age 70, you receive roughly 8% more per year .