On Wednesday, the Social Security Administration will reveal what the 2027 Social Security cost-of-living announcement will be. According to Yahoo! Finance, analysts predict a 3.5 percent increase in benefit checks. That’s significantly larger than this year’s 2.8 percent COLA. It would equate to an additional $73 per month on average.
While every dollar counts these days, especially as the cost of gas and groceries remain high, this predicted COLA won’t make much of a difference for the millions of seniors who rely on Social Security for all their retirement income. They will continue to struggle to make ends meet, especially because of lost buying power from years of inadequate COLAs.
Council of Seniors Is Here To Help Older Americans
All of us here at the Council of Seniors want to improve retirees’ financial futures and ensure they receive their full Social Security benefits. We are working with members of Congress to introduce the “Social Security Restitution Act.” It would provide an estimated $970 one-time payment to every retired worker receiving Social Security benefits to help offset years of inadequate cost-of-living adjustments.
Please take a moment and sign our petition today to show your support.