Social Security may have to cut retirement benefits in six years. Here's how much money is at stake for beneficiaries
The latest projections show Social Security may have to cut retirement benefits in six years. Here's what may happen if Congress doesn't prevent that.
The Social Security Administration announced on Oct. 14 that a 3.6% cost-of-living adjustment (COLA) will be applied to benefits for the upcoming year. According to Motley Fool, this 3.6% increase for 2027 represents one of the largest raises in the last 35 years, which the outlet attributes to President Donald Trump and certain policies.
CNBC reports that latest projections indicate Social Security may have to cut retirement benefits in six years if Congress does not intervene. Nasdaq Markets also confirmed the 3.6% cost-of-living adjustment announcement made on Oct. 14.
Brief written by urgent.news from CNBC, Nasdaq Markets, Motley Fool — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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