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Next year's Social Security raise is already a disappointment. But things could get even worse in 2026. ... This year's 3.2% COLA was above average over the past decade, and 2023's 8.7% COLA was a ...
The average Social Security COLA from 1975 to 2023 was 3.8%. However, the sky-high inflation in the 1970s and early 1980s skews this average somewhat. The median Social Security COLA during the ...
For instance, CPI-W inflation increased 2.5% in the third quarter last year, so Social Security payments increased 2.5% this year. That is the smallest COLA since 2021.
If your monthly Social Security benefit is $1,000 this year, it will be $1,025 starting in January 2025. If it's $2,000 now, it'll be $2,050. ... Take 2023, for example, when the COLA was 8.7%. A ...
The big news for 2023 is an 8.7% jump in the Social Security COLA, which is the highest since an 11.2% increase in 1981. ... The COLA’s steep hike this year is due to the soaring inflation rate ...
This year's COLA, however, was far more modest, coming in at just 3.2%. Meanwhile, next year's Social Security COLA estimates are coming in even lower so far. Recently, the nonpartisan Senior ...
A new year means a new schedule of Social Security payments for the 66 million beneficiaries who are enrolled in the program.. Social Security: Why Not Everyone Will Get An 8.7% COLA Increase in ...
The group’s latest COLA estimate is well below earlier estimates this year — estimates that projected a Social Security increase as high as 10.5% in 2023. However, even an increase of 8.7% ...