In 2025, retirees will see significant updates to their Social Security and Medicare benefits. A new bill, expected to be signed by President Biden, will increase Social Security payouts for specific pensioners and implement a 2.5% cost-of-living adjustment for all beneficiaries. Meanwhile, Medicare Part D enrollees will benefit from a new $2,000 annual cap on prescription drug expenses, easing financial burdens. However, monthly Medicare Part B premiums and deductibles will rise, potentially offsetting some of the Social Security increases. The Social Security trust fund depletion concern persists, with projections of possible depletion by 2033, necessitating legislative action without impacting current benefits. Additional changes include an increase in the maximum taxable earnings limit for Social Security and adjusting thresholds for the retirement earnings test.