The projected cost-of-living adjustment (COLA) for Social Security recipients next year will likely be slightly higher than the 2.5 percent COLA that was implemented for 2025’s payments, according to The Senior Citizens League (TSCL).
The group said that its modeling, which factors in consumer price index data that was released on Sept. 11, shows that the COLA will be 2.7 percent for next year.
“That’s the same as last month’s projection” and it would mean a raise of the “the average monthly benefit for retired workers by $54, or from $2,008 to $2,062,” the group said.
The Social Security Administration (SSA) is slated to announce its COLA for next year in October, factoring in consumer price index for urban wage earner (CPI-W) reports for the months of July, August, and September. The CPI-W for July was 2.5 percent, and it increased to 2.8 percent in August….