The Social Security cost-of-living adjustment (COLA) is supposed to help ensure benefits keep up with inflation. But that’s no longer the case. According to 24/7 Wall St., prices are rising faster than benefits. This explains why so many seniors are struggling financially.
A 2025 Social Security Survey by Nationwide Retirement Institute found that “over 50 percent of people who are currently collecting Social Security benefits have been forced to cut back on their living expenses because prices are going up faster than their benefits.”
Case in point, this year’s COLA is only 2.8 percent. Healthcare costs are skyrocketing, and the price of groceries and other necessities remains high. Social Security benefits just can’t keep up, so retirees are having to cut back. This is no way to live out your golden years.
Council of Seniors Wants to Support Older Americans
The Council of Seniors wants to help seniors in financial need. We are working hard to get Congress to passThe SAVE Benefits Act. This crucial bill will put $581 back in retirees’ pockets to make up for Social Security cost-of-living adjustments that were far too low for years.
Sign our petition today to support our efforts. Congress has ignored the growing number of seniors expecting action for way too long.