Social Security is making an important payment card change that will affect around 3.6 million beneficiaries who receive their monthly benefits through the Direct Express program. The update comes as the Social Security Administration changes the financial provider behind the prepaid debit card service. The program is moving from Comerica Bank to Fifth Third Bank, … Read more
Millions of Social Security beneficiaries may notice an important payment update this summer, especially those who receive their monthly benefits through Direct Express prepaid debit cards. While people using traditional direct deposit into a bank account may not see any change, around 3.6 million Direct Express cardholders should prepare for a transition involving their payment cards. The … Read more
Social Security recipients may receive a larger cost-of-living adjustment in 2027, with early estimates suggesting that the next COLA could reach 3.2%. If this prediction holds, it would give retirees, disabled workers and other beneficiaries a bigger monthly payment increase than they received in 2026. Cost-of-living adjustments, commonly known as COLAs, are designed to help … Read more
A new proposal to cap high Social Security benefits is gaining attention as the program faces growing financial pressure. The idea focuses on limiting annual benefits for retired couples who receive more than $100,000 per year from Social Security. Supporters say this change could save billions of dollars and help extend the life of the … Read more