Business
Social security benefits to rise 2.8%: Retirees to see $56 monthly boost; senior citizens say increase not enough – The Times of India
The Social Security administration on Friday announced that its benefits will increase by 2.8% in 2026, giving retirees an average monthly boost of more than $56. The rise reflects moderating inflation after several years of higher cost-of-living adjustments (COLA).The increase will take effect in January for nearly 71 million Social Security recipients, while about 7.5 million people receiving Supplemental Security Income will see higher payments starting December 31.The announcement, which was scheduled for last week, was delayed due to the US federal government shutdown.Recipients saw a 2.5% increase in 2025 and a 3.2% rise in 2024, following a historic 8.7% jump in 2023 driven by record-high inflation. The COLA is funded by payroll taxes collected from workers and employers, up to an annual salary cap that will rise to $184,500 in 2026 from $176,100 in 2025.Social Security Administration Commissioner Frank Bisignano said in a statement that the annual adjustment “is one way we are working to make sure benefits reflect today’s economic realities and continue to provide a foundation of security.” However, many seniors believe the increase won’t be enough to meet rising living costs, reported AP.Polling from AARP shows that many older Americans share that concern. Only 22% of Americans over 50 believe a COLA of around 3% is enough to keep up with inflation, while 77% disagree. According to the MIT Living Wage Calculator, a single adult living in Florence, South Carolina, spends about $10,184 annually on housing, $3,053 on medical expenses and $3,839 on food.Emerson Sprick, director of retirement and labor policy at the Bipartisan Policy Center, said in a statement that cost-of-living increases “can’t solve all the financial challenges households face or all the shortcomings of the program.”The latest adjustment comes as the Social Security Administration faces internal challenges and uncertainty about the program’s long-term future. In July, Treasury Secretary Scott Bessent said the Republican administration was committed to protecting Social Security, hours after comments suggesting that a new children’s savings program signed by President Donald Trump was “a back door for privatising Social Security,” as quoted by AP.
Business
‘I left Wales and moved to England for free childcare’
Bethan LewisEducation & family correspondent, BBC Wales News
Robin LloydFrom her Monmouthshire home, Robin Lloyd was able to see houses over the border in England knowing the families who lived there could access free childcare for their babies.
Robin and her husband decided to leave Chepstow and Wales and moved a 30-minute drive away to Gloucestershire so they would be eligible for support for children from nine months old.
In Wales, free childcare for two-year-olds is being expanded, prioritising disadvantaged areas but there is no support for younger children.
The Welsh government said its childcare programmes were “sustainable” and prioritising “more disadvantaged communities”.
Robin, a 35-year-old nurse, started thinking about childcare during her pregnancy.
“I realised that I would be paying almost double my mortgage each month in childcare in Wales but I could see England out of my window and the people in the houses over there would be having financial support,” she said.
“I knew I wanted more than one child but the cost of childcare was going to mean that it wasn’t going to be possible until my son was pretty much four years old.
“We were very cautious about the whole process but eventually decided that the way to afford a family of two children was to move to England.”
The move to the Forest of Dean cost £15,000 in solicitors’ fees and stamp duty “but overall was going to be a heck of a lot cheaper than trying to pay childcare in Wales”.
‘Really sad about it’
Since 1 September, working parents in England have been offered 30 hours of childcare a week during term time for children aged nine months to four years old.
There have been concerns about the availability of places and the cost of extra, unfunded hours.
But Robin said she had been able to get two days of funded childcare a week for her one-year-old, while she and her husband work part-time.
“That makes it far more affordable for somebody like me who’s just a nurse,” she said.
“I don’t have megabucks to be able to afford a home for my family and to have childcare.
“I’m really sad about it. I’ve left my home. But ultimately, if it means I can have the family, it’s worth it.”
In Wales, there is currently no childcare funding for children under two.
However the Welsh government is rolling out 12.5 hours of free care a week for all two to three-year-olds under the Flying Start scheme.
It said it had reached 15,901children through the scheme by the end of 2024-25 – roughly 52% of two-year-olds in Wales.
The next phase of expansion in 2025-26, funded by an extra £25m, is expected to “reach more than 4,000 additional children”, it said.

The Flying Start scheme is being extended by postcode, focusing on the most deprived areas first.
Merthyr Tydfil has become the first county in Wales to offer a place to all two-year-olds under the programme.
It covered a place every afternoon at Little Rascals nursery in Merthyr for Grace’s daughter, which she describes as “invaluable”.
She thinks it is important that all parents of young children, not just those who are working, are eligible for the support, meaning there is a “level playing field”.
‘Swathes don’t benefit’
“It’s so beneficial to have this programme for Merthyr, for everyone living here to have the opportunity for their children to go into childcare at such a young age without any stress about fees,” she said.
On the same site, Ana’s son goes to the forest school, where the children spend most of the day learning outside.
Their postcode was the last in Merthyr to become eligible for Flying Start childcare support in April.
“It’s such a shame that there are swathes of our country that don’t benefit from that,” she said.
“You just have to set foot inside one of these nurseries to find out how children love being around each other and learning from each other.”

In Merthyr, council bosses said “100% of early years providers” were able to offer Flying Start places, with capacity for all two-year-olds in county.
“This has been achieved over a considerable period of time, ensuring that we’ve got enough childcare places and that’s really important in all of this – making sure that whatever we commit to we’ve got enough childcare places,” said Sarah Ostler, the early years and Flying Start manager for Merthyr Tydfil council.
She said they had used Welsh government funding to extend the provision and had made sure there was “a suitably-qualified and experienced workforce”.
But in Monmouthshire, a councillor said parents were acutely aware of the different offer over the border in England.
Conservative county councillor Lisa Dymock said a number of people had moved to the area from Bristol with many under the impression they would be offered the same childcare offer as in England.
“Whilst they may have settled and live in a lovely location like south-east Monmouthshire, they’ve now realised [they’re] not entitled to this free childcare and they’re having to re-examine their budgets and their outgoings, which is hard for a young family,” she said.
‘Making a real difference’
Ms Dymock said that while Flying Start was “a very good scheme” it did not help women who needed to return to work and she wanted the English offer matched in Wales.
“I think that will help the household income, residents’ careers but also children’s development,” she said.
“I just think it’s a huge benefit and it’s what my residents are asking for – it’s what people want.”
The Welsh government said its childcare programmes were “making a real difference for families across Wales”.
It said the flying Start programme was now being extended two all two-year-olds.
“We’ve prioritised our more disadvantaged communities and made sure provision is sustainable”, a spokesperson said.
They said the Childcare Offer for Wales, providing up to 30 hours per week of care for three and four-year-olds, was more generous than England’s scheme.
“Unlike in England, it is available to parents in training and education as well as those in work and is available 48 weeks per year, compared to England’s 38 weeks.”
What are the political parties’ childcare promises?
In its autumn conference, Plaid Cymru announced it would offer at least 20 hours’ free childcare for 48 weeks a year to all children nine months to four years old by 2031.
The current offer of 30 hours for some three and four-year-olds would continue.
The Welsh Liberal Democrats said it would introduce 30 hours per week of childcare for children from nine months to school age and invest in school holiday provision.
The Welsh Conservatives said it would replicate the childcare offer in England of 30 hours a week for working parents of nine month to four-years-olds during term time.
It said there would be more details in its manifesto for the Senedd election.
Welsh Labour said it was “proud” to roll out free childcare for two-year-olds, providing a tax break for nurseries and expanding subsidised childcare for three and four-year-olds.
It is still discussing the offer for 2026 and beyond, the party said.
Reform UK said it was putting together a manifesto to “deliver the real change Wales needs”.
Business
From Budgeting To Investing: A Complete Guide To Managing Money In Your 20s
Last Updated:
From budgeting and building an emergency fund to saving and investing, here’s a guide to help you achieve financial success in your 20s.
How to achieve financial success in your 20s?(Representative Image)
Your 20s are a time of new beginnings, you start living on your own, secure your first job, manage your own expenses, experience heartbreaks and discover new things about yourself. But amid all these changes, this is also the perfect time to build habits that can benefit your future.
The earlier you start managing your finances, the stronger your financial foundation will be. From budgeting and building an emergency fund to saving and investing, here’s a guide to help you achieve financial success in your 20s.
Realistic Budget
Track every rupee, know exactly what you earn and where it’s being spent. Separate your needs and wants, and plan your expenses accordingly. Always prioritise essentials like rent, utilities, and groceries before spending on leisure. This simple practice helps build financial discipline and keeps your money in control.
An Emergency Fund
Life is full of surprises! Unexpected expenses like losing a job, sudden medical bills, or car troubles can come out of nowhere. It’s important to have an emergency fund with 3 to 6 months’ worth of savings in a reliable account. It’s your backup plan that keeps you financially steady when life throws a curveball.
Pay Yourself First
Save before you start spending. As soon as your salary is credited, set aside a portion of it for savings before spending it on anything else. Automate this process by directing the amount to a savings or investment account. Over time, this small habit can build strong financial discipline. Even saving 10 per cent each month can go a long way.
Magic Of Compound Interest
Investing in your 20s helps your money grow faster over time through compound interest. Start small with options like SIPs or PPFs. The earlier you begin, the more your wealth can grow over time.
Learn To Handle Credit
Your credit history represents your financial identity and can open new ways if managed well. Make it a habit to pay bills on time, maintain low credit card balances, and borrow only within your means. A good credit score can help you get better loans and rent homes more easily.
Popular Investment Options
Investing early allows you to grow your wealth and secure a financially stable future. Here are some popular options to consider:
Mutual Funds: Diversify your portfolio with professional management.
Index Funds & ETFs: Low-cost investment options that track the performance of market indices.
Stocks: High-risk, high-reward investments that can offer significant growth over the long term.
Cryptocurrencies: For those open to high-risk, high-volatility investments with potential for large returns.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
Delhi, India, India
October 25, 2025, 11:07 IST
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Business
US-China trade deal: Delegations begin talks in Kuala Lumpur; Trump’s 155% tariff threat looms – The Times of India
China and the United States kicked off their latest round of trade talks in Malaysia on Saturday, as the world’s two largest economies attempt to prevent further escalation of a costly tariff dispute. “The Chinese and US delegations convened on Saturday morning for talks on economic and trade issues,” official Xinhua news agency reported, as cited by AFP.These discussions come as the two nations get embroiled in a new wave tariff tensions.Chinese vice premier He Lifeng is leading a delegation to Malaysia from October 24 to 27 to hold economic and trade talks with the United States, the Chinese commerce ministry had said earlier in a statement.US President Donald Trump had threatened 100% additional tariffs on Chinese imports after Beijing’s introduction of sweeping controls on its vital rare earths industry earlier this month. Both nations have imposed arrival fees on each other’s ships, after a US “Section 301” investigation concluded that China’s dominance in the sector was unreasonable. Trump had also warned he might cancel his anticipated meeting with Chinese President Xi Jinping in South Korea, which was scheduled on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit beginning October 31. Despite these tensions, the US president has underlined his aim to secure a “good” deal with China and end the trade war. The ministry had earlier said the discussions will focus on “important issues in the economic and trade relationship between China and the United States.” The timing of the talks coincides with President Trump’s visit to Kuala Lumpur for the Association of Southeast Asian Nations (ASEAN) meeting from October 26 to 28.
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