The Senior Citizens League released a new estimate Wednesday for the 2025 COLA based on current inflation levels.
A new prediction for the Social Security cost-of-living adjustment for 2025 is likely to disappoint seniors who depend on their checks for monthly income.The Senior Citizens League released a new estimate Wednesday for the 2025 COLA based on current inflation levels. Under their analysis, the COLA would be set at 2.57 percent next year.Seniors and those with disabilities who receive Social Security payments see their monthly benefit checks change each year based on the COLA.
In a TSCL survey in July, 71 percent of seniors said persistent high prices as a result of inflation, forcing them to deplete their savings, is a top retirement concern.'Any increase will be a positive impact,' Kevin Thompson, a finance expert and founder and CEO of 9i Capital Group, told Newsweek. 'However, health care costs continue to outpace inflation. Furthermore, the increased cost of assisted living continues to outpace overall inflation.
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