US Edition
Social Security COLA update: Government cutbacks could lead to less money for beneficiaries
- The Social Security Administration has recovered $4.7 billion but still seeks repayment of $21.6 billion from alleged ineligible beneficiaries.
- This repayment demand stems from SSA's claim of overpayments, which disproportionately impact low-income recipients and strain their finances.
- The projected increase in Social Security benefits for 2026 is estimated at 2.5%, based on CPI-W figures that may be affected by reduced data collection due to staffing limitations at the Bureau of Labor Statistics.
- TSCL Executive Director Shannon Benton stated that inaccurate CPI data creates a serious disconnect between reported inflation and what seniors experience.
- These issues suggest that if COLA underestimates inflation, Social Security beneficiaries may face reduced purchasing power over their retirement.
15 Articles
15 Articles
The debt of the Social Security, which was kept contained from 2000 to June 2017 at around 17,000-18 billion euros, climbed in the second half of that year.
NWAHOMEPAGE
Social Security COLA increase: Senior group issues projection, but warns of potential new ‘problems’
(NEXSTAR) – What kind of bump can Social Security beneficiaries expect in 2026? A new projection from the Senior Citizens League expects a modest one — if indeed the data they’re interpreting is accurate. The Senior Citizens League (TSCL) is a nonpartisan senior advocacy group aiming to educate older Americans about laws, rights and financial issues facing their demographic in retirement. The organization is also known for its accurate projectio…
Alabama Live
Staten Island AdvanceSocial Security benefit update: COLA estimate reveals a new and big concern
TSCL’s model prediction has increased for four consecutive months.
Think Tank Proposes Plan to Save Social Security - Long Island Life & Politics
It is estimated that the Social Security system will have to reduce benefits to every retiree by 21% in 2033 if nothing is done to shore up the system. Proposed fixes include significant tax increases [...] The post Think Tank Proposes Plan to Save Social Security appeared first on Long Island Life & Politics.
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