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Yahoo
6 days ago
- Business
- Yahoo
2026 Social Security COLA Predictions: Here's What Experts Are Saying
The 2025 COLA increase of 2.5% for Social Security recipients was one of the lowest since 2021, and so far, signs are pointing to an even lower increase for next year. We're still about five months out before we get an official announcement from the Social Security Administration, so there's plenty of room for that to change -- in either direction. Experts in the field have been making predictions for the 2026 COLA since the beginning of this year, and an initial prediction of a 2.1% bump next year has been followed by a slight shift upward month by month. Whether these expert takes will match the official number remains to be seen -- especially with the economic uncertainty spurred by the Trump administration's tariffs agenda -- but we'll break down the latest for you below. I've been steeping myself in all things Social Security for the past year, writing timely articles that surface the most relevant details for existing and soon-to-be beneficiaries and their families. Even if, like me, you're a long way from retirement, staying up to date with expert takes will keep you informed for when it's time for you or your loved ones to retire. The COLA adjustment will be one of the most important announcements of the year. For more, don't miss the Social Security and SSDI cheat sheet. The cost-of-living adjustment, otherwise known as the COLA or COLA increase, is an annual change in the payment scale made by the Social Security Administration. It's pegged to the Consumer Price Index for Urban Wage Earners and Clerical Workers, which measures the average changes in prices for consumer goods and services and is updated monthly by the Bureau of Labor Statistics. These monthly snapshots in the changes to prices of goods and services allow the SSA to see the overall average and determine the COLA for the following year as a percentage of the current payment levels. For Social Security and Supplemental Security Insurance recipients, the COLA percentage represents how much more you'll receive in monthly benefits in the new year. It takes effect Jan. 1 and stays in effect for the calendar year. The official COLA announcement typically takes place sometime in October. How the COLA is calculated has become a hot topic, given that the model sets the adjustment for the entire year ahead. The Senior Citizens League, a nonpartisan advocacy group for older adults, last year conducted a study of 3,000 older adults. A key takeaway: 72% of respondents said that Congress should prioritize changing the COLA calculation to an index that's more reflective of the changing expenses for seniors, like the CPI-E. There are multiple government benefits that use the COLA to make adjustments. In addition to Social Security, the adjustment applies to Social Security Disability Insurance and Supplemental Security Income, Medicare, Supplemental Nutrition Assistance Program to account for inflation when setting benefits. The League provides monthly predictions of what the upcoming COLA will be for the following year, and they were spot on for 2025's, predicting a 2.5% COLA. In January, the League predicted a 2.1% increase for 2026 and has adjusted that upward since then. Its latest prediction, as of April 2025, sits at 2.4%. The prediction comes after the recent executive order by the Trump administration, targeting pharmaceutical companies and pushing for cheaper drug costs. Despite the upward trend over the past few months, the League predicts the 2026 COLA to be the lowest since the 1.3% COLA in 2021. This, of course, is all subject to change, not least because of the economic uncertainty highlighted by the Trump administration's tariffs. For more, don't miss the Social Security and SSDI cheat sheet. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Record
26-05-2025
- Politics
- Daily Record
SNP cuts to local youth services and education is damning for John Swinney
Violent attacks against young people are devastating communities right across Scotland. We are regularly seeing reports of violent bullying, stabbings and even of Primary School aged children bringing knives to school. In the very worst cases, young people are losing their lives – their potential, promise and future stolen in an instant. The First Minister says even one stabbing is too many and he is right, but the truth is there have been too many of these incidents to count. The fatal stabbing of 16-year-old Kayden Moy from East Kilbride last weekend was utterly heartbreaking. The day before that a boy was stabbed in Portobello. It has happened before, and the grim truth is that it will happen again without meaningful action. We need to fix the problems the SNP created in our justice system and make communities safer, but it will take much more than that to address these deep-rooted issues. Too many young people are feeling hopeless – they have been deprived of opportunities and unable to get mental health support. I have spoken many times about the SNP 's dangerous mismanagement of child and adolescent mental health services. Too often young people at crisis point are being left waiting months or even years for the help they desperately need. Local youth services have suffered as the SNP has raided billions from Councils. More and more teachers and pupils report feeling unsafe in schools. Attainment is declining, inequalities widening, and teachers struggling to cope. It is not just schools – right across the board, the SNP's education system is letting young people down. Colleges have had places, staff and funding cut, universities have harsh caps on places for Scottish students, fewer young people are doing apprenticeships, and youth unemployment is rising. The SNP once said we should judge them on their record on education – well this record is one to be ashamed of. It is the duty of any government to build a better future for the next generation, but the SNP has done the opposite. The SNP has robbed young people of opportunities, demolished support services and allowed violence to run riot. One constant throughout the many years and many failures of this SNP government is John Swinney. He was the Finance Secretary who cut local services, the Education Secretary who tried to downgrade the exam results of working class pupils, and the First Minister who failed to act in the face of a growing youth violence epidemic. John Swinney and the SNP created this crisis – they will not be the ones to fix it. The UK Labour government is delivering for young people by boosting the Minimum Wage for young workers, meaning a pay rise of up to £2,500 a year. But young people need a Scottish Government that is on their side too. Scottish Labour will rebuild our once world-class education system, make sure CAMHS can cope, and deal with both the causes and the consequences of violence head on. It's time for a new direction for the next generation. HOUSING EMERGENCY A year ago the SNP declared a housing emergency, but things are still getting worse. After Ministers acknowledged this national emergency, rough sleeping rose and the number of children in temporary accommodation hit a record high. Housebuilding in 2024 was lower than the year before, and house prices and rent are still rising faster than inflation. The SNP's plan for the year ahead was branded a 'Programme for Homelessness' by Shelter Scotland and 31 out of 32 Scottish Councils have had their social housing budgets cut by the SNP. This is a shameful record with catastrophic consequences for people across Scotland. Extortionate rents are piling pressure on struggling Scots and home ownership is a distant dream for many. Families are stuck in overcrowded, mouldy homes because they don't have any other options. Worst of all, 10,000 children are in temporary accommodation without a home to call their own. The UK Labour government is leading the way by reforming planning and building more homes in England, but the SNP is failing to act. Scotland deserves better and Scottish Labour will deliver it by getting Scotland building and working with Councils to ensure every Scot has the safe, secure home they need. SAVE HAMILTON ACCIES Football belongs to the fans and clubs shouldn't be able to leave their local communities without their support. Davy Russell has pledged to work with the SPFL to give fans a voice and save under-threat clubs like the Hamilton Accies.
Fashion United
12-05-2025
- Business
- Fashion United
Next requests shareholders vote against resolution calling to disclose employee wages
Next has called on its shareholders to vote against a resolution requesting for the British fashion retailer to disclose how it pays employees to address concerns over employee wages. A group of investors is hoping Next will increase its transparency and improve conditions for shop floor workers by revealing how many of its 40,000 staff are paid below the real living wage. The resolution is being backed by a group of institutional shareholders–including Axa, Scottish Widows and the Greater Manchester Pension Fund–according to This Is Money, which initially reported the news. Speaking to the media outlet, Clare Richards, a member of the Church of England Pensions Board, another backer of the resolution, said: 'Greater disclosure by Next of its pay practices would demonstrate how the company seeks to balance the needs of their stakeholders and lowest paid workers.' The real living wage is set at 12.60 pounds an hour in the UK, sitting higher than the national minimum wage, which is 12.21 pounds and 10 pounds for those between 18 and 20. In London, the minimum wage amounts to 13.85 pounds. Next responded to the resolution in its latest annual report where it said that it 'did not believe it was appropriate to produce additional bespoke reports beyond its current disclosures', which it claimed already aligned with its legal obligations. In the report, Next stated that it pays retail workers in line with statutory minimums, including use of age-related National Minimum Wage rates. National living wage is used as a baseline, payment for which is only guaranteed after one year of service with a performance requirement attached to the uplift. Any increase to its wages would come with 'significant cost implications', the retailer noted, before adding that it wanted 'flexibility' to set its own pay rates, instead of outsourcing the decision to a third party. In conclusion, the company added: 'We are committed to paying fair wages and acting in the best interests of all stakeholders. However, we believe it is vital for the company to retain control over pay and benefits decisions rather than ceding this responsibility to an external body. Formal 'Living Wage' accreditation would compromise this flexibility, increase costs, and impact employment opportunities.' The resolution will be voted on during Next's upcoming general meeting, scheduled to be held May 15.
Scoop
09-05-2025
- Health
- Scoop
International Nurses Day The Braemar Way
Press Release – Braemar Hospital The hospital's 165 nurses will continue their dedicated patient care while being given special moments to be appreciated by their colleagues throughout the month of May. Simple acts of kindness and appreciation will be the kaupapa behind recognising nurses at Hamilton's Braemar Hospital next week, in celebration of International Nurses Day on May 12. The hospital's 165 nurses will continue their dedicated patient care while being given special moments to be appreciated by their colleagues throughout the month of May. Braemar Hospital General Manager Clinical Services Pru Sheahan said 'International Nurses Day gives us the perfect opportunity to pause and recognise the tremendous contribution our nursing workforce makes to ensuring quality healthcare in our community.' The celebrations in May will include several thoughtful gestures designed to honour the nursing staff, best suited to the needs of the various teams across Braemar Hospital. Personalised notes of appreciation from colleagues, special appreciation gifts, team outings, lunches and dinners are some of the activities planned. 'From pre-operative assessments to in-theatre, to post-surgical recovery, our nurses guide patients through every step of their healthcare journey with compassion and expertise,' Pru added. 'International Nurses Day is about celebrating that dedication, but also about reminding ourselves that this appreciation should extend throughout the year.' Braemar Hospital acknowledges the importance of the nursing profession by also employing more than 30 nurses in leadership positions, supporting its clinical quality and safety, clinical professional development, and day-to-day operational requirements. The International Council of Nurses has celebrated this special day since 1965, choosing Florence Nightingale's birthday to honour the profession worldwide. For nurses like Helena Macdonald, who has worked at Braemar Hospital for 32 years, her advice to those entering the profession reflects her enduring passion. 'Nursing is a wonderful profession. It leads into so many different fields. I love coming to work every day. Just to be doing something caring and compassionate makes every day meaningful,' says Helena. 'Our hope is that every nurse at Braemar feels seen and appreciated,' said Pru. 'Their skill, compassion, and dedication deserve to be celebrated not just during International Nurses Day, but every day.' Braemar Hospital is widely recognised as one of New Zealand's leading private surgical hospitals and the only private hospital in Aotearoa New Zealand that is a Living Wage Employer. The hospital is 100% owned by Braemar Charitable Trust which works to improve healthcare outcomes by supporting medical research, building health sector capability and delivering a community surgery programme.
Wales Online
29-04-2025
- Business
- Wales Online
How parents of children born since 2014 can claim £2,000
How parents of children born since 2014 can claim £2,000 Parents are being told to 'act quickly' as the new tax year begins The Tax-Free Childcare scheme allows working parents to save up to £2,000 per child annually on approved childcare costs (Image: Getty ) Parents are being urged to take advantage of a tax-free childcare benefit available for children under 11 - and to act quickly as the new tax year begins, warns Robert King, director of nanny payroll specialists Nannywage Ltd. He has shared: 'The Tax-Free Childcare scheme allows working parents to save up to £2,000 per child annually on approved childcare costs, and up to £4,000 for children with disabilities. For every £8 deposited into the account, the government contributes an additional £2, up to £500 every three months, or £1,000 for disabled children. "Parents should take advantage of this scheme, as it provides valuable financial relief, helping families manage childcare costs while maintaining flexibility to withdraw unused funds if circumstances change." For money-saving tips, sign up to our Money newsletter here How to apply Families can apply online for Tax-Free Childcare on the government website in just 20 minutes. Once the account is set up, parents can deposit money immediately and use it to cover costs for nurseries, childminders, breakfast or after-school clubs, or holiday activity clubs. Any unused money can be withdrawn at any time. Article continues below Who is eligible for the scheme? Parents must earn at least the equivalent of 16 hours per week at the National Minimum Wage or Living Wage and no more than £100,000 annually per parent. The scheme is not available to those receiving Tax Credits, Universal Credit, or childcare vouchers. For self-employed individuals or directors, additional proof of meeting minimum income requirements may be needed, such as accountant statements, invoices, wage slips, or bank statements. This ensures the scheme supports those actively working and contributing to childcare expenses. The scheme supports children aged 11 or under, or up to 16 if they have a disability. Eligibility ends on September 1 after the child's 11th or 16th birthday, depending on their circumstances." Article continues below
