Social Security's 2.8% COLA Forecast Leaves Retirees Exposed to Inflation
Social Security beneficiaries may find a 2.8% cost-of-living adjustment (COLA) offers little to no help in covering everyday expenses, according to a survey of beneficiaries. The Senior Citizens League predicts a 2.8% COLA for 2027. This adjustment is calculated based on the inflation rate. Annual inflation recently reached a two-year high of 3.3%, driven by soaring oil prices caused by the war in Iran. These oil prices increase transportation and manufacturing costs for businesses, which raises consumer prices for gas, plastic products, and fertilizers. Between 2010 and 2024, the COLA outpaced the inflation rate in only five years. 68% of beneficiaries say the 2.8% adjustment offers little to no help in covering everyday expenses.
More Briefs
A $100,000 cap on Social Security benefits could reshape who gains and who loses in retirement
Apr 14More homes are on the market, but not enough to meet pre-pandemic norms — and prices may soon fall year-over-year
Apr 14Bitcoin Surges Toward $76,000 as US PPI Data Looms and Oil Trade Speculation Mounts
Apr 14Kimbell Royalty Partners' 10.2% yield depends on commodity price volatility