Inflation Is Primed To Increase Social Security Benefits Here S How
Since 1975, the Social Security Administration has annually adjusted, based on the rate of inflation, the amount of the monthly payment sit sends out. This cost-of-living adjustment, or COLA, is designed to ensure that recipients have roughly the same buying power even if prices go up. Normally, the COLA isn’t very big. It was 1.3 percent last year and 1.6 percent the year before. In 2009, 2010, and 2015 it was zero....