News Reader.info

By

Rebecca Perron, AARP Research

Social Security’s cost-of-living adjustment (COLA) typically provides retirees with an annual increase in their retirement payment based on a national measure of inflation. In 2023, retirees

saw a record 8.7% COLA and a more modest 3.2% bump in 2024.

The goal of the COLA is to offset rising prices. However, AARP Research fielded in August 2024 shows that older adults feel the projected COLA of less than 3% is insufficient to do that job.

Only 16% of Americans ages 50-plus agree that “a cost-of-living adjustment (COLA) of less than 3% for Social Security recipients is enough to keep up with rising prices.” In fact, more than

four in five disagree (83%) with this statement, including 61% who strongly disagree that less than a 3% COLA can keep up with costs. Agreement and disagreement are similar regardless of

political party, with disagreement expressed by the large majority of Republicans (85%), Independents (80%) and Democrats (82%).

Methodology

Interviews were conducted between August 15 and 19, 2024, among 1,000 U.S. adults age 50-plus in the Foresight 50+ Omnibus. Funded and operated by NORC at the University of Chicago,

Foresight 50+ is a probability-based panel designed to be representative of the U.S. household population age 50 or older. Interviews were conducted online and via phone. All data are

weighted by age, sex, education, race/ethnicity, region, and AARP membership.

For more information, contact Rebecca Perron at [email protected] . For media inquiries, contact External Relations at [email protected].

Suggested citation:

Perron, Rebecca. Social Security COLA 2025: Annotated Questionnaire. Washington, DC: October 2024. https://doi.org/10.26419/res.00867.001

MORE FROM AARP

Social Security Customer Service Challenges: Causes, Impacts, and Solutions

This report explores the causes of Social Security Administration’s (SSA) customer service challenges, examines their impacts on people utilizing these services, and highlights ways to

improve SSA performance.

Medicare and Social Security Are Critical to a Secure Retirement

The importance of Social Security and Medicare to Americans age 50-plus cannot be overstated, according to a recent AARP survey.

Americans Want and Need More Information About Social Security

People who rely on Social Security the most show gaps in knowledge about Social Security retirement benefits, specifically about when to claim and how that affects benefit amounts.

How Do Americans View Social Security?

Using General Social Survey data from 1984 through 2021, this Insight on the Issues demonstrates Social Security has been and continues to be viewed favorably, enjoying widespread popularity

across many socioeconomic and political groups.

Widespread Support for Social Security Remains, With Urgency for Funding Solutions

Social Security remains incredibly popular and Americans age 18-plus demand immediate action on solvency, with Democrats and Republicans working together.

{ "maxItems":5, "itemsPerRow":"3", "rows":"4", "loadMore":"6", "adsNum":"0", "resultsLength":"5" }