Social Security benefits are pegged to inflation. When the government announces inflation figures tomorrow, it’s likely that a retiree’s monthly social security benefits could increase by 5% or more. Social Security calculates the Cost of Living Adjustment (COLA) using inflation over the 12 months preceding September. It’s estimated that the CPI-W, the figure used, will be above 5% since, for the 12 months trailing August, the figure was 5.9%.
Of course this is a double edged sword. On one hand, Social security retirees will get more money. On the other, things are more expensive.
Comments
One response to “Inflation to Increase Social Security Benefits”
im ashamed to say i voted for ob im a crippled coalminer started at 16 years ive worked hard for anything ive ever got if life and now me and lots more are screwed we will have to go to washington with our canes and raise some ky hell mostly i have to say im ashamed to be a democrat but we all have the right to be wrong once. wheres the jobs to rebuild our dams and roads the gov. always took from indians and mexicans before t.v. so ill end this before i get my guns out ready to hide lets orginize ill be first in line the richest country is going to balance things on backs of the ones that are the weekest