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Inadequacy of COLA in the News Again
January Social Security benefits are underway at this point and, once again, observations of the COLA calculation process and its inadequacy to preserve purchasing power for seniors are surfacing. For example, a post this weekend by The Motley Fool’s Keith Speights on their website cited the results of a survey by The Senior Citizen’s League (TSCL) noting 70% of the respondents worry “… that high inflation would cause them to potentially deplete their retirement savings despite receiving increased Social Security benefits.” Speights reports that in addition to “top line” inflation exceeding the 2.5% COLA for 2025, selected categories most important to seniors continue to accelerate in cost compared to other categories. Click here to read his post.
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