Tens of millions of seniors may have to wait longer to find out how much their Social Security checks will rise next year.
The Social Security Administration (SSA) is expected to announce the 2026 cost-of-living adjustment (COLA) on Oct. 15, the same day the Bureau of Labor Statistics (BLS) planned to release September's inflation data. But with most BLS employees furloughed amid the government shutdown, economic reports — including the inflation update — could be delayed, USA Today reported.
The SSA cannot calculate the annual COLA without the inflation report, according to USA Today.
Although the COLA announcement may be delayed, Social Security payments will continue as usual, since its funding is not tied to Congress’ annual budget process, according to USA Today."A government shutdown could potentially delay an announcement of the COLA, but remember, the data is for September and that has already been collected," Mary Johnson, an independent Social Security and Medicare policy analyst, told USA Today.
The only time a COLA announcement has been delayed was in October 2013, according to USA Today.
Source:
Fox Business