Social Security benefits will arguably lose buying power next year because the 2.5% COLA understates inflation.

Now, with the year winding down, all Social Security retirees should mark Nov. 20 as another date to remember. Here's why.

A free my Social Security Account will allow recipients to view the latest COLA notices detailing the exact amount they will receive starting next year.

If it weren't for Social Security, millions of older Americans would no doubt struggle to keep up with their ongoing expenses. That's what makes Social Security's cost-of-living adjustments (COLAs) so important.

To help offset rising prices, Social Security provides an annual cost-of-living adjustment (COLA) that kicks in at the beginning of each year. The Social Security Administration uses the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI ...

A Social Security cost of living increase offers retirees options such as managing costs, saving or enjoying small splurges.

The annual Social Security cost-of-living adjustment, or COLA, is one of the most important features of the government program. Without those annual raises, seniors would quickly find the purchasing power of their monthly annuity checks failing to meet their needs. That might feel like the case for some even with the COLA.

Although Social Security's annual adjustment is mathematically fair, the procedure still arguably leaves retirees at a disadvantage. That is, by the time recipients begin receiving their bigger payments, they've been paying higher prices for everything for up to as much as a year.