I feel this was not good news for all recipients of special security benefits.
And the truth is: The Social Security Administration’s annual COLA (cost of living adjustment) will go up by 2.8% in the beginning of the new year (January 2026). Roughly speaking, 71 million social security recipients will receive no more than $56 an average increase every month in the bank account. This is in context of a 3.2% increase in their benefits in 2024 after a historically large 8.7% benefit increase in 2023 that was brought on by record 40% high inflation.
Most seniors who say the COLA won’t help much in their ability to pay their expenses. Because other items that have become more expensive in the past two years including gasoline, auto insurance and food items.
I feel that costs are getting out of control at all levels and older Americans are increasingly struggling to keep up in today’s economy. I can guarantee that a COLA of right around 3% to 4% for recipients is moderate enough to keep up with rising prices.
And I urge the social security administration commissioner to increase COLA benefit 2026 before it goes into bank accounts.
Zafar Yousufzai
Fremont
