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Here's How Much You Can Expect Social Security to Pay Through 2034

GOBankingRates Logo By John Csiszar of GOBankingRates | Slide 1 of 12: Social Security payments are a fixed amount, determined based on your career earnings. But the amount you receive from Social Security can still increase from year to year thanks to cost-of-living adjustments.Every year, the Social Security Administration announces whether or not there will be a COLA for the following year, and if so, by what percentage the payments will increase. Here’s an explanation of what the cost-of-living adjustment is, why it’s important and what you can expect your payments to be through 2034.Click through to learn Social Security details you should know now.

Here's How Much You Can Expect Social Security to Pay Through 2034

Social Security payments are a fixed amount, determined based on your career earnings. But the amount you receive from Social Security can still increase from year to year thanks to cost-of-living adjustments.

Every year, the Social Security Administration announces whether or not there will be a COLA for the following year, and if so, by what percentage the payments will increase. Here’s an explanation of what the cost-of-living adjustment is, why it’s important and what you can expect your payments to be through 2034.

Click through to learn Social Security details you should know now.

© JGI / Jamie Grill / Getty Images

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