Social Security 2025 COLA is projected to decline, putting seniors at financial hardship and increasing their tax burden

0
Join For Personal Benefits News

The slowing inflation patterns should mean a significantly less cost-of-living increase for older persons in 2019.

The Senior Citizens League, a nonpartisan, nonprofit seniors advocacy organization, conducted study and projected that Social Security’s cost-of-living adjustment (COLA) in 2025 will be 1.75% based on Tuesday’s consumer price index report from January.

That rise would be less than the 3.2% adjustment for this year and the 8.7% adjustment for 2023—the biggest increase in forty years. Furthermore, it would not meet the 2.5% projection made by the Congressional Budget Office.

The senior citizens league’s budget office employs a different formula, “but undoubtedly inflation rates will likely decrease from 2023 levels and the COLA for 2025 to be reduced as well,” stated Mary Johnson, the league’s Social Security officer.

Leave A Reply

Your email address will not be published.

buy metronidazole online