We Could See an Extraordinarily Low COLA for 2025
Things are not looking good for America’s retirees facing financial hardships due to inflation. According to an article by News Nation Now, analysts predict Social Security’s cost-of-living adjustment (COLA) will be 2.66 percent in 2025. If that happens, it will be the lowest COLA increase since pre-pandemic years. This is a big concern for seniors, many of whom are struggling even with this year’s 3.2 percent COLA.
The next few months are pivotal. Next year’s COLA increase will be calculated based on the average inflation rate from July to September, compared to the same period the previous year. The official announcement will be made in October.
The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees a fair annual COLA, an immediate benefits increase of about $200 a month, and increased minimum benefits. It will also ensure the long-term solvency of the Social Security program.
