15 Sep, 2021

Social Security may get huge cost of living adjustment

The 68 million people — including retirees, disabled people and others – who rely on the benefits are likely to receive a 6% to 6.1% cost-of-living adjustment next year because of a COVID-19-related spike in inflation, according to the Senior Citizen League.

Such a rise would far outpace 1.4% average bumps in Social Security payments since 2010 and amount to the largest increase since 1982, according to the Senior Citizen League.

Social Security COLA 2022: Benefit rise could be 6%, most since 1982 (usatoday.com)

About : Kevin Bae

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