Social Security Benefits Rose 8.7% in 2023. Will Seniors Ever See a COLA That Large Again?
In January of 2023, seniors on Social Security saw their benefits increase 8.7%. That cost-of-living adjustment, or COLA, was the largest one to arrive in decades. And it no doubt helped many seniors cope with rising expenses.
But last year's Social Security COLA was nowhere close to 8.7%, coming in at just 3.2%. And current estimates are putting 2025's Social Security COLA at just 2.63%.
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Source Fool.com
