Social Security benefits will arguably lose buying power next year because the 2.5% COLA understates inflation.

To help offset rising prices, Social Security provides an annual cost-of-living adjustment (COLA) that kicks in at the beginning of each year. The Social Security Administration uses the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI ...

A Social Security cost of living increase offers retirees options such as managing costs, saving or enjoying small splurges.

The annual Social Security cost-of-living adjustment, or COLA, is one of the most important features of the government program. Without those annual raises, seniors would quickly find the purchasing power of their monthly annuity checks failing to meet their needs. That might feel like the case for some even with the COLA.

An estimated 96.7% of adults aged 60 to 89 receive Social Security. Although the average monthly benefit amount for retired workers was just $1,920 in August 2024, Social Security constitutes a

Question: This is my first year on Social Security. Do I have to update any forms to get the COLA? I think this is a scam, but I thought I should check.

Still, the recent news raises a handful of questions among the retirees it impacts the most. Here are a few things you might want to know about these annual cost-of-living adjustments. The annual COLA isn't a number arbitrarily decided by the Social Security Administration.