So rather than hope for a larger COLA in 2026, what retirees should actually hope for is a change to the way those raises are calculated. Using a more senior-specific index that measures changes in retiree costs like healthcare could lead to more generous COLAs in future years without requiring a scenario where everyone struggles due to inflation.

The Senior Citizens League (TSCL) has predicted that Social Security's 2026 Cost-of-Living Adjustment (COLA) will be 2.5 percent, up from April's prediction of 2.4 percent. While May's prediction is slightly up from March's 2.