The Social Security Administration recently announced a 2025 Cost-of-Living Adjustment (COLA) for Social Security of 2.5 percent.
However, many seniors feel this increase is inadequate. In fact, 81 percent of seniors believe this adjustment will provide little to no relief for their financial challenges.
As the cost of essentials like groceries, housing, and healthcare continues to rise, 54 percent of seniors say that the 2.5 percent COLA is simply not enough to cover their needs. For those on fixed incomes, even modest increases in daily expenses can be difficult to manage.
Moreover, 71 percent of seniors feel the 2025 COLA doesn’t accurately reflect the true cost pressures they face. Inflation measures used to calculate the adjustment may not take into account the higher medical costs and other unique expenses that seniors experience.
Many retirees are now advocating for larger increases. A significant 68 percent of seniors say that a COLA of 6 percent or more would better support their financial needs. As inflation continues to challenge daily living expenses, the current COLA may not be sufficient to maintain seniors’ financial stability.
Advocating for a more equitable COLA is crucial in ensuring seniors can live securely. It’s time for adjustments that reflect the true cost of living for those on a fixed income.
What’s your opinion on the 2025 COLA increase? Let us know in the comments! And if you want to do your part to protect benefits in the future, sign our petition.
