Yes, seniors are getting extra money through a recent 2.8% Social Security Cost-of-Living Adjustment (COLA) for 2026 and a new, significant tax deduction from the "One Big Beautiful Bill Act" (OBBBA) starting in 2025, providing up to a $6,000 bonus deduction for individuals and $12,000 for couples. These increases mean higher monthly benefits and greater tax savings for many seniors, with the COLA impacting January 2026 payments and the tax deduction available when filing taxes in early 2026 for the 2025 tax year, say KIPLINGER and CNBC.
Who qualifies for the $6,000 senior deduction? People who turned 65 by Dec. 31, 2025, are eligible for the new deduction, according to the IRS. The deduction provides $6,000 for each qualifying individual, or $12,000 for married couples who both qualify.
The "$6,000 senior bonus" refers to a new, temporary federal tax deduction for individuals aged 65 and over, available for tax years 2025 through 2028, allowing for an extra $6,000 deduction (or $12,000 for couples) on top of other deductions, phasing out for higher incomes, and designed to reduce taxable income, not replace Social Security.
The 2.8 percent cost-of-living adjustment (COLA) will begin with benefits payable to nearly 71 million Social Security beneficiaries in January 2026. Increased payments to nearly 7.5 million SSI recipients will begin on December 31, 2025.
Yes, seniors are getting a 2.8% raise in their Social Security benefits for 2026, a Cost-of-Living Adjustment (COLA) that went into effect in January 2026, increasing the average monthly payment by about $56, though concerns exist about how much of that increase will truly help due to rising costs and Medicare premiums. This adjustment helps benefits keep pace with inflation, though the formula's reliance on the CPI-W index is often criticized for not reflecting seniors' actual expenses.
Who Will Receive the $1,100 Centrelink Bonus. The bonus will be automatically issued to eligible Australians receiving approved Centrelink payments. Those expected to qualify include: Age Pension recipients.
The dollar amount increase to checks will vary depending on a person's benefit amount, but the average Social Security Retirement benefit, $2,008.31 in July 2025, will grow by about $56.
The confirmed amount is $300 per eligible senior, issued as a one‑time payment rather than a recurring monthly increase. Unlike regular pension adjustments, this top‑up is intended to deliver quick financial assistance at the beginning of the year.
You must be aged 20 and below, or 55 and above, in the disbursement year. Lower-income senior Singapore citizens will receive cash payments of $600 to $900 through the AP Seniors' Bonus. The AP Seniors' Bonus will be disbursed over three years, from 2023 to 2025. The last disbursement was made in February 2025.
The extra $144 added to Social Security usually comes from the Medicare Part B Giveback benefit, offered by some Medicare Advantage (Part C) plans, which pays back some or all your Part B premium, showing up as extra money in your check if it's deducted from your Social Security. To qualify, you need Original Medicare (Parts A & B), pay your own Part B premium, live in a plan's service area, and enroll in a specific Medicare Advantage plan that offers this "rebate," with the amount varying by plan and location.
The new senior deduction allows seniors to deduct from taxable income, up to $6,000 individually or $12,000 if married filing jointly. To qualify, filers must provide their Social Security number on their tax return and be at least 65 years old.
For 2025, the extra deduction is: $6,000 per qualifying senior. Applies to each spouse if both are 65 or older. That means a married couple where both spouses are over 65 could receive an additional $12,000 by claiming this new deduction.
Since November 2023, false rumors have spread online about a fourth stimulus check for seniors. There currently is no new stimulus check on the way; the IRS is only issuing payments to people who did not receive the full amount they were eligible for with previous stimulus checks.
Qualification for the $1,400 stimulus check (the third Economic Impact Payment) in 2021 depended on your 2021 Adjusted Gross Income (AGI) and filing status, with full amounts for single filers earning up to $75,000 (phasing out at $80,000) and joint filers up to $150,000 (phasing out at $160,000), plus $1,400 per dependent; you needed a valid Social Security Number and had to claim it as the Recovery Rebate Credit on your 2021 tax return if you missed the payment, with deadlines typically in April 2025.
Cost of Living Adjustment (COLA):
For the January to March 2025 period, there won't be an increase, as the CPI showed a small dip over the last three months. But don't worry—over the past year, benefits have still grown by 2.0%, helping seniors keep pace with rising living costs.
Yes, Social Security recipients received a Cost-of-Living Adjustment (COLA) for 2025, but the bigger news is that they are getting a larger 2.8% COLA for 2026, announced in October 2025, which began with January 2026 payments, increasing average benefits by about $56 per month. The 2025 COLA was a smaller 2.5% increase, while the 2026 adjustment reflects moderating inflation, leading to higher payments starting in the new year.
On October 24, 2025, the SSA confirmed a 2.8 percent COLA for 2026. This raise applies to a wide range of beneficiaries, including retirees, their spouses and survivors, and individuals receiving SSI or SSDI. The annual COLA is tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
If you receive the new State Pension, the full amount you'll receive for the 2025/26 tax year will be £230.25 a week (compared to £221.20 a week for the 2024/25 tax year). You can claim the new State Pension if you're: a man born on or after 6 April 1951. a woman born on or after 6 April 1953.
The Minister for Social Protection, Dara Calleary, has announced the details for the Christmas Bonus, which will be paid to approximately 1.5 million people this week including pensioners, carers and people with disabilities.
To be eligible for Age Pension you must be Age Pension age and meet some other rules. Age Pension age is 67 years or older. We use income and assets tests to work out how much Age Pension you get. There are several things to consider when you're preparing to claim Age Pension.
I am receiving Social Security disability benefits. Will I get a stimulus check? Yes, you probably will if you earned less than $75,000 in either 2018 or 2019.
Visit the IRS Get My Payment (GMP) portal at https://www.irs.gov/coronavirus/get-my-payment to see if you can expect a 2021 Economic Impact Payment. The GMP portal will provide the date when your payment was or will be sent.
Eligibility Criteria for Senior Stimulus Checks
Those who receive Social Security benefits, Supplemental Security Income (SSI), or veterans' benefits are also considered for stimulus payments, even if they do not file a tax return.