Retirees receiving Social Security benefits will receive more money next year. But will it really make much of a difference?
The Social Security Administration has revealed that the annual cost-of-living adjustment (COLA) will be 2.8% in 2026. That’s higher than this year’s 2.5% COLA. However, it’s less than the historical average. According to MSN, “since COLAs became annual in 1975, the average has been 3.6%.” In fact, over the past ten years, the average COLA has been 2.8% so next year’s COLA is right on par.
It’s expected that retirees will receive an additional $56 per month on average. It’s not a lot, but every little bit counts these days, as we continue to see prices soar for groceries and other necessities.
Council of Seniors Wants to Put More Money in Your Pocket
If you’ve been following along with our efforts at the Council of Seniors, you know we’re trying hard to get Congress to pass The SAVE Benefits Act. This crucial bill will put $581 back in seniors’ pockets to make up for the Social Security cost-of-living adjustment (COLA) that was far too low for years. Greedy Washington politicians want to use seniors’ hard-earned money in other ways, but we’re dedicated to giving it back to those who are rightfully entitled to it.
Please take a moment and sign our petition today to show your support.