Why Some are Calling the 2025 Social Security COLA a ‘Lost Opportunity’
Social Security recipients will receive a modest increase in benefits next year. The Social Security Administration (SSA) granted a 2.5 percent cost-of-living adjustment (COLA) and now many senior advocates are using this “lost opportunity” as a rallying call for Social Security reform.
According to an article by Newsweek, many retirees are feeling financial strain as inflation has impacted everything from groceries to healthcare. Advocates say this illustrates why Social Security should adopt a different COLA calculator, one that uses the Consumer Price Index for Elderly Consumers (CPI-E), which tracks changes in prices for goods and services that older people spend their money on.
The Seniors Trust is in total agreement. We are strong supporters of The Social Security Expansion Act, a landmark piece of legislation that calls for using the CPI-E to calculate a fairer COLA. It will also provide retirees with an immediate benefits increase of about $200 a month and ensure the long-term solvency of the Social Security program.
