Social Security's 2027 COLA Just Got Downgraded: What Retirees Need to Know Now
Benefits may not rise as much as expected in the new year, but the news isn't totally dire.
Overview
If you collect benefits from Social Security and don't have much other income to fall back on, the program's annual cost-of-living adjustments (COLAs) are probably quite important to you. COLAs are designed to help your benefits keep up with inflation, which can erode Social Security's purchasing power even during periods when costs aren't rising so much.
At the start of 2026, Social Security benefits got a 2.8% COLA. And many retirees are no doubt hoping 2027's COLA will be a lot more generous, given the way costs have climbed lately, especially at the gas pump.
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Details
Source
Originally published at www.fool.com.
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