{"id":395396,"date":"2026-04-16T15:16:25","date_gmt":"2026-04-16T15:16:25","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/395396\/"},"modified":"2026-04-16T15:16:25","modified_gmt":"2026-04-16T15:16:25","slug":"group-warns-social-security-payment-increase-may-not-be-enough-to-keep-up-with-inflation","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/395396\/","title":{"rendered":"Group warns social security payment increase may not be enough to keep up with inflation"},"content":{"rendered":"

Your support helps us to tell the story<\/p>\n

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.<\/p>\n

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.<\/p>\n

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.<\/p>\n

Your support makes all the difference.Read more<\/p>\n

A group representing senior citizens<\/a> in the U.S. has warned that this year\u2019s adjustments to social security<\/a> cost of living allowances of the elderly will not be enough to keep up with rising inflation.<\/p>\n

The Senior Citizens League<\/a> predicts that the Social Security Administration\u2019s 2027 cost of living adjustment <\/a>will be 2.8 percent, contrasting with 3.3 percent average inflation over the last 12 months.<\/p>\n

The adjustment was the same as last year, which was also 2.8 per cent.<\/p>\n

\u201cRather than taking away benefits<\/a> from people who have paid into the system their entire working lives, we should focus on strengthening America\u2019s pension system,<\/a>\u201d said Shannon Benton, executive director of TSCL.<\/p>\n

\u201cSeniors tell us over and over that their benefits don\u2019t go as far as they used to, and many younger people worry if the program will have atrophied to a shadow of its former self by the time they reach retirement age, even as taxes on their wages cover today\u2019s benefits.\u201d<\/p>\n

Figures put out by TSCL are based on the same metrics used by SSA to calculate adjustments, but the group has long-argued that such metrics do not take into account extra costs incurred by elderly Americans.<\/p>\n

\"AA group representing senior citizens in the U.S. has warned that this year\u2019s adjustments to social security cost of living allowances of the elderly will not be enough to keep up with rising inflation (Joe Giddens\/PA Wire)<\/p>\n

This includes housing, groceries, medicine and extra medical care that younger households do not need.<\/p>\n

\u201cThe fact is that most senior households already get by on only about 58 per cent as much income as their working-age counterparts,\u201d Benton added. \u201cAnd you\u2019d be hard-pressed to find a middle-class or working-class American who thinks the economy is doing well right now, especially as oil prices rise.\u201d<\/p>\n

The advocacy group has previously highlighted how 90 per cent of senior citizens were unhappy with their monthly benefits allowance, with many citing COLAs that \u201clag inflation\u201d as the problem.<\/p>\n

TSCL has called for a congressional overhaul on the methods used for calculating the adjustments, which currently uses the CPI-W \u2013 Consumer Price Index for Urban Wage Earners, rather than the Consumer Price Index for the Elderly \u2013 CPI-E \u2013 which is \u201cspecifically based on the spending patterns of Americans 62 years of age and older.\u201d<\/p>\n

The group has proposed an alternative system it has named \u201cCPI Best,\u201d where COLA increase is best on the highest out of the CPI-W, the CPI-E, or a minimum increase of 3 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"Your support helps us to tell the story From reproductive rights to climate change to Big Tech, The…\n","protected":false},"author":2,"featured_media":395397,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,266,267],"class_list":{"0":"post-395396","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-il","11":"tag-israel","12":"tag-personal-finance","13":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/395396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=395396"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/395396\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/395397"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=395396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=395396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=395396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}