The Social Security COLA Forecast for 2025 Keeps Getting Bigger. Here's How Much Benefits Could Increase Next Year
The Motley Fool
MAY 2, 2024
Social Security income is protected from inflation by annual cost-of-living adjustments (COLAs). Benefits got an 8.7% COLA last year and a 3.2% COLA this year, both above the 10-year average of 2.3%. But many Social Security beneficiaries are still feeling financial pressure in the current economic environment. The 2024 Retirement Confidence Survey (RCS) conducted by the Employee Benefit Research Institute, a nonprofit group, found that 56% of retired workers expect to make substantial spending
Let's personalize your content