If you were planning to retire next year, double check your math because a law passed in the ’80s is annually raising the age when Americans can collect their full Social Security benefits. And next year is no exception.

In 2024, the life expectancy for someone born in 1959 was 74 for men and 80.1 for women, according to a Social Security report. The report predicts continuing increases in life expectancy, which translates into even more years that beneficiaries will receive Social Security checks.

Millions of Americans will see higher Social Security checks now that the windfall elimination provision (WEP) is abolished.

Millions of beneficiaries can expect enhanced Social Security benefits and new limits to Medicare prescription drug costs in 2025.

Social Security benefits generally increase every year, and that's thanks to the program's annual cost of living adjustment (COLA). The COLA is meant to help retiree benefits keep pace with inflation,

The retirement age refers to when seniors are able to receive monthly benefits for the full amount of money they are entitled to.

The Social Security Administration (SSA) is set to begin distributing the first round of monthly benefits for the year 2025. Nearly 73 million beneficiaries, including retired workers, survivors, and recipients of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI),