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Story summary
- The projected 2027 Social Security cost-of-living adjustment (COLA) is about 2.8%, increasing retirees’ payments by roughly $56.69 per month.
- The adjustment aims to maintain buying power amid rising inflation driven by higher fuel prices.
- Experts warn the increase may not boost financial security since healthcare and housing costs could absorb the gains.
- The COLA is reactive and has historically lagged inflation, underscoring the need for ongoing financial planning.
