Seniors Should Brace for a Lower Social Security COLA Next Year
It seems inflation is finally subsiding. While that sounds like good news, that might not be the case for Social Security recipients. According to an article by CNBC, next year we could see the lowest annual Social Security cost-of-living adjustment (COLA) in five years. Analysts predict a 2.4 percent COLA in 2026. That’s lower than this year’s 2.5 percent, but higher than the 1.3 percent COLA we saw in 2021.
The official COLA will be announced in October and will depend heavily upon what happens with inflation over the coming months. The article notes that tariffs could push the inflation rate higher in the months to come. Only time will tell.
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 an immediate benefits increase of about $200 a month, a fair annual COLA, increased minimum benefits, and ensure the long-term solvency of the Social Security program.
