Potential Impact of Inflation on 2025 Social Security COLA
Wednesday, 13 March 2024, 09:02
Understanding the Social Security COLA Projection for 2025
The Senior Citizens League projects a 1.75% COLA for 2025 based on recent inflation data.
The Flaws in the Calculation Method
Social Security COLAs are based on the CPI-W, which overlooks critical expenses like healthcare for seniors.
Advocating for Change
Senior advocates propose using a more accurate index for COLA calculations to better reflect retirees' costs.
The Importance of Retirement Savings
Building adequate savings is key to offsetting the impact of insufficient COLAs and ensuring financial stability in retirement.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.