The official Social Security cost-of-living adjustment will factor in one more month of government inflation data when it is announced. That data, theconsumer price index, will also be released on Thursday. The
(CBS Local)-The Social Security Administration announced Tuesday that benefits for about 70 million Americans will increase by 1.3% in 2021. The increase in benefits is a cost-of-living adjustment that will begin in January of the new year. The Social Security Act ties the annual cost-of-liv...
The Social Security Administrationsetits 2025 cost-of-living adjustment at 2.5%, the smallest annual COLA hike since 2021. Although inflation has eased from its pandemic-era heights, some advocates for older Americans say the modest bump in Social Security benefits puts U.S. retirees at risk of...
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3 percent in 2021, the Social Security Administration announced last week. The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million S...
WASHINGTON (AP)-Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people. The increase amounts to $20 a month for the average retired worker, according to estimat...
WASHINGTON (WJW) – Social Security and Supplemental Security Income (SSI) benefits will increase 1.3 percent in 2021, the Social Security Administration announced Tuesday. The average retiree will get a $20 increase per month. The 1.3 percent cost-of-living adjustment (COLA) will begin with bene...
Notably, the benefit boost for 2025 will be the lowest since 2021. As the pace of inflation has subsided, the cost-of-living adjustment has come down with it, since the Social Security Administration uses government inflation data to calculate the annual change. ...
WASHINGTON - Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. The COLA, as it's commonly called, ...
Howard Schneider
The 8.7% Social Security cost-of-living adjustment for 2023 is significantly larger than the 5.9% COLA in 2022 and just 1.3% COLA in 2021. Previous Social Security COLAs have ranged from zero in 2010, 2011 and 2016 to 14.3% in 1980. The last time retirees received a cost-of-living ...