Will Social Security Recipients Get a History-Making COLA in 2027? Here's What the Experts Say.
Retirees want a big raise, but do the numbers support that?
Will Social Security Recipients Get a History-Making COLA in 2027? Here's What the Experts Say.
Overview
When the Social Security Administration (SSA) announced that retirees on Social Security would be getting a 2.8% cost-of-living adjustment (COLA) in 2026, a lot of people weren't happy. Many assumed a boost that size would be inadequate. And while they couldn't have known it at the time, they were right.
In the wake of the Iran war, inflation has surged. May's Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 4.4% on an annual basis. That's significant, because the CPI-W is the measure used to calculate Social Security COLAs. If benefits only rose 2.8% this year and inflation is already in the 4% range, it doesn't bode well.
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Originally published at www.fool.com.
