India, Oct. 23 -- The US Social Security Administration (SSA) is all set to announce the annual cost-of-living adjustment (COLA) on Friday. Ahead of the big reveal, which would help shape the expenditure charts for 2026 for several individuals, there has been quite a buzz around the annual raise. As per a Bankrate report, the estimated annual COLA increase is expected to be around $648 for an income of $2,008.

The COLA that will be announced on October 24 will be applicable to beneficiaries starting in January. In numbers, this increase percentage will be around 2.7 per cent for 2026. In comparison, the average COLA raise for the last 25 years is 2.58 per cent, stated the report.

In brief, COLA can be best described as an increase in be...