No COLA Adjustment for Social Security in 2010

April 28th, 2009  |  Published in Social Security  |  52 Comments

There’s a great US News & World Report article on the 5 Big Financial Changes for Retirees in 2010 and the first one listed is a doozy. It’s widely believed that there will be little to no near term inflation which means that Social Security cost of living adjustments will likely be zero in 2010 and beyond.

No cost-of-living boosts for Social Security. Forecasters widely predict that a slowly recovering economy will produce little or no inflation in the near term. That’s generally good news, but not for Social Security recipients, whose annual increases are tied to consumer price changes in urban areas. Health care, a major retiree expense, is not expected to see the same price moderation as will other sectors of the economy. So it’s quite possible that Social Security beneficiaries will be seeing flat payments, but still face higher prices.

  

Responses

  1. David says:

    September 3rd, 2010 at 4:05 pm (#)

    I find it funny that people are blaming Obama for NOT getting their Social Security COLA increase. COLA is based on the CPI, Consumer price Index. If it goes down, NO COLA INCREASE. It isnt the president who determines this, ITS THE LAW. if you want it changed, ask your congressman or woman to change it, NOT the president. If the president were to TRY to change it, do you really think he could garner enough SUPPORT in this lousy congress? Obstructionist are what YOU PEOPLE have voted into Office, all in the name of opposing the president. You have nobody to blame except for YOURSELVES

  2. Money Hacks Carnival 68- Stanley Cup Final Edition says:

    September 7th, 2012 at 11:05 am (#)

    […] presents No COLA Adjustment for Social Security in 2010 posted at My Retirement […]