Will Social Security's 2027 COLA Be the Largest Raise in 4 Years? Here's What the Data Suggests.
Inflation seems to be setting the stage for a generous raise.
Overview
When the Social Security Administration announced last year that benefits would be getting a 2.8% cost-of-living adjustment, or COLA, many seniors were disappointed. In fact, 54% of retirees said a 2.8% Social Security COLA wasn't going to cut in a Motley Fool survey taken after that number became official.
Little did they know it at the time, but the 54% of retirees who said a 2.8% COLA was too small were absolutely right. Inflation has soared this year, largely fueled by the Middle East conflict. As a result, that 2.8% COLA has trailed inflation for much of the year.
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Originally published at www.fool.com.
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