From Woman's World · Carissa Mosness · · 1m 20s
Social Security 2027 COLA 3.6% Enough?
Experts warn 3.6% Social Security COLA may not cover rising costs for seniors.
In brief
Experts warn 3.6% Social Security COLA may not cover rising costs for seniors. Social Security's 3.6% 2027 COLA adds $75 monthly but experts say it won't keep up with inflation. Originally reported by Woman's World.
Social Security 2027 COLA Announced
The Social Security Administration announced a 3.6% 2027 COLA on October 14.
COLA Adds $75 Monthly
The 3.6% COLA adds about $75 a month to the average retirement check in January.
SSA Commissioner Statement
SSA Commissioner Frank J. Bisignano said the increase will help 76 million Americans gain financial stability.
Bisignano's 90-Year Claim
Bisignano previously claimed Social Security would last another 90 years despite trust fund concerns.
Experts Warn COLA Insufficient
Experts say the 3.6% increase won't restore purchasing power lost to inflation.
Shannon Benton's View
Shannon Benton says seniors aren't getting ahead but just slightly bigger checks for bigger bills.
Nancy Altman's View
Nancy Altman states people are crushed by prices despite the COLA increase.
Leslie Tayne's Advice
Leslie Tayne recommends reviewing phone, insurance and drug plans yearly to save money.
High-Tech Billing Tips
Signing up for auto-pay can save up to 10 percent on car insurance premiums.
At a glance
Social Security's 3.6% 2027 COLA adds $75 monthly but experts say it won't keep up with inflation.
