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Social Security Benefits Could Get a Generous COLA in 2026 -- but Retirees May Not Be Happy With It
If Social Security's 2026 COLA comes in at 2.7% or higher (which is still a possibility), it will mean that inflation has picked up. So what seniors gain in the form of larger monthly Social Security checks, they stand to lose in the form of higher costs everywhere they look.
Several Social Security Administration (SSA) changes are arriving this month for beneficiaries. On October 15, the cost-of-living adjustment (COLA) will be finalized for next year, determining the adjustment for benefit increases to take effect in January.
Social Security beneficiaries will no longer receive physical benefit checks via mail. Going forward, all recipients need to enroll in direct deposit or opt to receive their benefits via a Direct Express card.
The biggest announcement of the year is within sight, but it's likely to leave Social Security's more than 70 million beneficiaries disappointed.
Young and the Invested on MSN
Is Your Social Security Check Going Up? What You Should Know About the Annual COLA
America’s cost of living is almost always pointed north. Jump back in time, and you could buy a candy bar for a nickel. Nowadays, there’s very little you can buy with the spare change in your pocket.
People who receive only SSI benefits will receive two payments in October.