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This is why retirees can buy far less with their benefit payments today. CameraCraft / Shutterstock.com
Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend. Social Security recipients saw a 3.2% bump in their benefit payments in 2024 on account of inflation. But it has done little to help counteract the erosion of Social Security benefits’ purchasing power over time.
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