The 2025 Cost-of-Living Adjustment (COLA) for Social Security is set at 2.5 percent. While this may seem like a step in the right direction, many seniors believe it’s far from enough. In fact, per a survey by The Motley Fool, 81 percent of seniors say the 2.5 percent increase will help very little or not at all.
As prices for essentials like groceries, housing, and healthcare continue to rise, 54 percent of seniors feel that this modest COLA is insufficient. For those living on a fixed income, even small price hikes can create financial strain. The COLA is supposed to help seniors keep up with inflation, but many argue that it falls short of that goal.
The reality is that 71 percent of seniors believe the COLA doesn’t reflect their actual financial situation. Inflation rates used to calculate the COLA may not fully capture the expenses unique to seniors, like higher healthcare costs. As a result, their benefits may not stretch as far as they need to.
A growing number of retirees are calling for more substantial increases. In fact, 68 percent say the COLA should be 6 percent or higher to truly make a difference in their lives. Despite recent reports, inflation is still impacting daily expenses. More needs to be done to ensure seniors can maintain their financial security in retirement.
The fight for fairer COLAs is essential to helping seniors live with dignity. It’s time to advocate for adjustments that truly reflect the realities of living on a fixed income.
Help The Seniors Center Protect the Future of Social Security
The Seniors Center is committed to finding solutions to strengthen and protect the Social Security Trust Fund. Social Security is a contract between citizens and the government. Money deposited in the Trust Fund should only be used to pay benefits to eligible recipients.
The Seniors Center is demanding Congress finally put a stop to the careless borrowing and spending by greedy politicians that has put our Trust Fund and our secure retirement in jeopardy.
At The Seniors Center, our goal is to help seniors, and we’re doing that by protecting the future of Social Security. Retirees shouldn’t have to worry about losing their hard-earned benefits to taxes or the agendas of greedy politicians. If you agree, we invite you to sign our petition today! And follow The Seniors Center on Twitter and Facebook for more updates!
