Cost of living

Only a 1.5 percent increase for Social Security

Only a 1.5 percent increase for Social Security

Social Security benefits for nearly 58 million people will increase by 1.5 percent next year, the government announced Wednesday. The increase is among the smallest since automatic adjustments were adopted in 1975. It is small because consumer prices haven’t gone up much in the past year. The annual cost-of-living adjustment, or COLA, is based on […]

Does COLA freeze hurt Social Security recipients?

Does COLA freeze hurt Social Security recipients?

Seniors will remain ahead of the inflation curve despite a second straight year without an increase in their Social Security benefits. Some seniors and their advocacy groups have raised the specter of millions of the elderly struggling to pay for food, utilities and health care under a benefit freeze. Struggle, many do, particularly those who […]