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Social Security will soon be making a big announcement. On Oct. 24, 2025, the Social Security Administration will finally let seniors know what their 2026 Cost of Living Adjustment (COLA) is going to look like.

COLAs happen in most years to help retirees maintain their buying power. Because COLAs increase the retirement benefits seniors collect, the news about how big the raise will be is always much-anticipated.

Unfortunately, although retirees are most likely going to get a bigger benefits increase than last year, many seniors are inevitably going to end up disappointed with the increase to their checks in 2026.

Here’s the surprising reason why that’s the case.

The COLA is going to be bigger– but there’s a problem

Although the official announcement on the Social Security COLA has not been made yet, the Senior Citizens League is projecting that benefits are going to increase by 2.7% next year. This estimate is based on year-to-date changes to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

CPI-W is used to determine how much Social Security benefits should increase because it helps to measure inflation, and the purpose of the COLAs is to make sure that Social Security benefits do not lose buying power. While the formula isn’t a perfect one since the spending habits of urban wage earners and clerical workers aren’t exactly aligned with senior spending, the formula does give an idea of how much prices are rising — and retirees get a benefits increase equal to the average year-over-year change to CPI-W in the third quarter of the year.

Since we have a lot of this data available, the Senior Citizens League estimate is probably fairly close to accurate, and barring any major surprises when the September inflation data is released in October, the raise should come in at around that projected 2.7%. And, if it does, that will be a little bit bigger than the benefits increase retirees received in 2025.

A bigger raise should make seniors pretty happy since they’ll get more money to help maintain buying power — but there’s a surprising reason why that’s not necessarily going to be the case. The problem is that a good portion of the additional funds coming to retirees will disappear to cover rising Medicare premiums.

COLAs will take a huge hit due to rising Medicare premiums

For any retiree who is on Medicare, the COLA is probably going to be a huge disappointment because of how little of it will be left after Medicare premiums are accounted for.

See, Medicare premiums come out of most people’s Social Security checks. And Medicare Part B premiums are going up by a huge amount next year. The Medicare Trustees’ report projects that premiums are going to increase by $21.50 per month, jumping all the way up from $185 in 2025 to $206.50 in 2026. This is one of the biggest year-over-year increases in the history of the Medicare program.

If a typical retiree is collecting the average benefit of $2,008.31 in 2025, a 2.7% COLA would result in their benefits increasing by around $54. If $21.50 of that disappears, then the typical retired Social Security recipient will end up seeing their monthly payments go up by only $32.50.

By contrast, if someone had started with that same $2,008.31 check in 2025 and received a 2.5% COLA, they’d have seen their benefit go up by around $50.00 — but, since Medicare premiums only rose by $10.30 per month between 2024 and 2025, retirees would have seen benefits go up by around $40.

Retirees need to be aware that so much of their benefit increase is going to disappear to rising Medicare premiums this year, and take that into account during their retirement planning process for the upcoming year. Seniors need to maintain a safe withdrawal rate from their 401(k) and other retirement accounts, and with a Social Security raise that ends up pretty small after Medicare costs take a bite out of it, this may require some careful budgeting.

One of the biggest expenses you might face in retirement is healthcare. And it’s an expense that you may only be able to do so much to reduce.

If you’re tired of paying huge property taxes and spending a lot to maintain a larger home, you can always downsize. If you don’t want to bear the expense of a car, you could move to an area that’s walkable.

Image source: Getty Images.

But if you need to take certain medications to protect your health, you may not get much of a say in the matter. And if you have a medical condition that involves follow-up appointments, skipping them to save on the costs may not be an option (or at least not a wise one).

That’s why it’s so important to make sure you’ve chosen a suitable Medicare plan. The right plan could lead to big savings on health-related costs, not to mention make it easier to get the care you need.

Why you may be unhappy with your Medicare coverage

There are plenty of reasons why you may be less than pleased with your Medicare plan choice. If you have Medicare Advantage, you may be frustrated by:

• Limited provider networks, making it harder to see the doctors you prefer
• Prior authorization, which could delay your care
• High rates of denial, which could be stressful and lead to sub-optimal care
• Hefty out-of-pocket costs, which you could face even if your plan itself comes with a low or even $0 premium

Meanwhile, if you have Medicare Part D, you may be unhappy due to:

• High out-of-pocket costs for the specific medications you take
• Difficulty understanding your plan’s formulary and rules

All of these are valid reasons for wanting to ditch your Medicare plan. And soon enough, you may get that opportunity.

Relief is in sight

Though you may be stuck with your Medicare plan for the time being, soon enough, you should have an opportunity to make a change for the new year. Medicare’s fall open enrollment period is set to begin next month — specifically, on Oct. 15. Between then and Dec. 7, you’ll be able to make changes to your Medicare coverage.

During open enrollment, you can:

• Switch from your current Medicare Part D drug plan to another
• Switch from your current Medicare Advantage plan to another
• Sign up for Medicare Advantage for the first time
• Dump Medicare Advantage and switch over to original Medicare (and get a Part D drug plan to go with it)

It pays to explore your plan choices during open enrollment. But ahead of that, make a list of the issues you have with your current Medicare plan so you can make sure any new plan you get does a good job of addressing them. If high medication copays are a problem, for example, then you’ll want to find a Part D plan that treats the drugs you take more favorably.

One thing you don’t want to do, though, is rush through open enrollment if you’re dissatisfied with your current Medicare plan. Mark Oct. 15 on your calendar so you can begin pursuing other options as soon as possible and have ample time to analyze them.

A gritty, rock-inflected comedy using the nocturnal peculiarities of Mumbai slum life as a fertile (if at times fetid) palette, British-raised Karan Kandhari’s “Sister Midnight,” about a restless young housewife’s urban malaise, easily holds your attention for long stretches when seemingly little happens, but everything feels charged.

Don’t mistake this stylish feature debut for a misery wallow, however, or some poetic character study. It’s tantalizingly oddball and indelicate: a combined daymare and night odyssey that scratches until a feral hidden strength is revealed in the misfit main character, captivatingly played by Indian star Radhika Apte.

Though the movie ultimately can’t square its episodic unpredictability with the bubbling feminist-outlaw energy at its core — not to mention the comic-book twist that shakes it all up halfway through — that’s less a bug than a feature. Like a movie DJ, Kandhari is flexing a pulpy mood of big-city dislocation, building a trippy, jarring and blackly funny experience out of a city’s stray colors, sounds and personalities.

Arriving at their one-room hovel in the dead of night, arranged-marriage newlyweds and rural transplants Uma (Apte) and Gopal (Ashok Pathak) look more like thrown-together prison cellmates adjusting to a warden’s rules than a romantic couple embracing a future together. We glean that this was a match of undesirables: the timid, sexless guy no girl wanted and the girl too outspoken to be paired.

But here they are, having to make do. Gopal at least has a job to go to, from which he often comes home hammered after drinks with colleagues. Uma, left behind in the solitude of a shack that only allows one shaft of window light, is quick to profanely protest the joyless, intimacy-challenged rut they’ve entered. Alternating between angry and exhausted, she bristles at acclimating to the domesticity that her prickly neighbor wives treat like a club handshake.

Before long, Uma’s taste for cigarettes under the moonlight turns into regular solo walks at all hours. An impulsive journey to a coastal part of town hours away leads to her taking a cleaning job in an office building (and a friendship with a glumly simpatico elevator operator). Suddenly, she’s brandishing a mop and pail everywhere like a rootless knight without a quest or a horse. Then there’s a cryptic street encounter with a goat and things get even weirder. But also, somehow, more validating.

Kandhari, with his hypnotic Wes Anderson-by-way-of-David Lynch widescreen framing and deliberate tracking shots, seems more concerned with capturing something liminal in Uma’s alternative existence, as if the city were just weird and oppressive enough to tease out any transformation that was already lying dormant. (By the time the movie introduces stop-motion creatures roaming the streets, you’ve been primed to think, “Sure, why not?”)

A mischievously off-the-wall exercise like “Sister Midnight” (which eventually embraces some gnarlier elements) needs a certain steam to keep up its deadpan wildness. Kandhari is blessed in that regard with an active visual curiosity about his cracked fable’s punk potential, helped by Sverre Sørdal’s humid cinematography and a game lead in Apte, whose middle-finger energy is sometimes hilariously offset by a wonderful silent-film-star haplessness.

One wishes it all held together a little more, instead of laying seeds that tend to sprout vibes and distractions instead of an illuminating cohesiveness. Kandhari will too often keep Uma in cartoon rebel-goddess mode, needle-dropping another classic rock cut as if daring us to accept Motorhead or Buddy Holly as the only viable soundtrack for what’s going on. But those elements are a kick, too.

Of course, the title “Sister Midnight” is an Iggy Pop staple. “What can I do about my dreams?” it growls, an apt lyric for the singularly inventive and unmanageable fever of a movie that shares its name.

A PUB dubbed the “cheapest” in Britain has suddenly shut up shop after 500 years.

Locals have been left shocked after the owners revealed a bizarre reason with a notice on the door.

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The Abbey, Derby, posted the handwritten note on the door saying they were unhappy about photos of it being shared online.

The 22-word notice reads: “Closed!!

“Due to someone posting pictures of the Abbey on social media.

Sam Smith has taken the alcohol and closed these premises.”

Samuel Smith’s Brewery owns the pub and it has been suggested the current landlords had broken policies and were dismissed as a result.

The brewery operates 200 pubs across the UK and is known for it’s strict rules from owner Humphrey Smith.

Such rules include a no-swearing policy, no televisions or jukeboxes and a ban on the use of mobile phones or laptops in its public houses.

Just days prior to the closure, a Facebook account with more than 125,000 followers posted 18 pictures of the pub, inside and out.

The Great British Pub Crawl account, a page run by Dale Harvey and his wife, Holly, follows the couple as they attempt to visit every boozer in the UK.

They posted the photos on Saturday, May 17 alongside the caption: “Not every day you are asked to grab photos or a video in a Sam Smith’s pub.”

It’s not clear whether the post was the reason behind the closure.

The pub is one of the last surviving buildings from an extensive monastery, dating back to the 15th century.

The sudden closure has left locals stunned, with many taking to social media to express their disappointment and confusion.

While the brewery has offered no official explanation, insiders suggest the landlords were dismissed for allowing, or failing to prevent, photos of the pub being shared online, a clear breach of company policy.

The closure marks yet another abrupt ending for a Samuel Smith’s venue, following similar shutdowns in Bradford and London, and raises fresh questions about the brewery’s management style and the long-term viability of its rule-heavy model in the digital age.

The Abbey is far from the only British boozer pulling its last pint.

A string of beloved pubs are closing their doors, with punters and landlords alike left heartbroken as pressures in the hospitality industry hit boiling point.

In East London, the historic Gun pub in Homerton has shut down after 160 years of service.

Once a bustling local favourite, the venue was brought back to life in 2014 following a major revamp by landlords Nick Stephens and his partner Hanna-Sinclair Stephens.

Despite surviving the Covid crunch thanks to a heroic crowdfunding campaign that raised over £30,000 in a single day, the couple say the pub has now become “unsustainable”.

“It was hugely popular, but we just couldn’t keep going,” Nick said.

“The capacity was only 90 — the numbers just didn’t add up anymore.”

Meanwhile, in Nottingham, The Emerald, a vibrant Indian pub and sports bar, has also called time, just two years after opening.

Dubbed a “labour of love” by its owners, The Emerald quickly became a community favourite for curry lovers and cricket fans alike.

But behind the scenes, soaring costs and the departure of a key business partner created what they described as “emotional, financial and operational strain”.

In a heartfelt post, they thanked loyal customers:

“The Emerald was always more than just a pub—it was a cultural space… Thank you, from the bottom of our hearts.”

Social media lit up with tributes from heartbroken regulars. One wrote: “It was more like home to us.

Watching India win the World Cup there was unforgettable.”

And even award-winners haven’t been spared, a Midlands pub, hailed as the region’s best and a finalist for Desi Grill of the Year 2024, has also gone under, despite its short-lived success.

The wave of closures paints a grim picture for the UK pub scene, already battered by the pandemic and now facing soaring prices for rent, business rates and barrels.

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