Social Security COLA reduction proposals: What changes are on the table and how could benefits be affected?

Several proposals modeled by the Social Security Administration’s Office of the Chief Actuary could reduce future annual cost-of-living adjustments, or COLAs, for millions of beneficiaries as policymakers consider options to improve Social Security’s long-term finances. The proposals are not current law and do not mean Social Security benefits have already been cut. The SSA lists them as policy provisions and estimates their potential financial effects using the intermediate assumptions of the 2026 Trustees Report.

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