Social security increase set to take place in January 2014 is set to increase, according to "Cost of Living Adjustment" report by the Associated Press.
The report notes the benefits will increase by roughly 1.5 percent, against price inflation of almost 10%, when measured using more forthright methods employed by the Federal Government itself, until 1980. The increase will be small because consumer prices, as measured by the government, haven't gone up much in the past year.
The exact extent of the cost-of-living-adjustment (COLA) will be determined using infSocial Security Increase Lowest in Four Years
Social security increase set to take place in January 2014 is set to increase, according to "Cost of Living Adjustment" report by the Associated Press.
The report notes the benefits will increase by roughly 1.5 percent, against price inflation of almost 10%, when measured using more forthright methods employed by the Federal Government itself, until 1980. The increase will be small because consumer prices, as measured by the government, haven't gone up much in the past year.
The exact extent of the cost-of-living-adjustment (COLA) will be determined using inflation data released by the US Labor Department. During all the uncertainty near the government shutdown, both parties and White House are quarreling over entitlements and debt, while almost 58 million Social Security recipients have been left in limbo.
The report means millions of retirees, disabled veterans and federal retirees can expect a roughly 1.5 percent increase in their checks starting in January 2014. The raise will be small because consumer prices have not risen very much this year, despite a recovering economy.
The COLA has averaged around 4.1 percent since 1975. In the past, there has been only 6 times when it was 2.0 percent or less. In 2010 and 2011, there was no COLA al all because inflation was too low.
If the increase goes as plans, this means that those who rely on Social Security, well as the veterans' benefits, federal pensions or Supplemental Security Income will increase the typical monthly payment of $1,162 by roughly $17.lation data released by the US Labor Department. During all the uncertainty near the government shutdown, both parties and White House are quarreling over entitlements and debt, while almost 58 million Social Security recipients have been left in limbo.
The report means millions of retirees, disabled veterans and federal retirees can expect a roughly 1.5 percent increase in their checks starting in January 2014. The raise will be small because consumer prices have not risen very much this year, despite a recovering economy.
The COLA has averaged around 4.1 percent since 1975. In the past, there has been only 6 times when it was 2.0 percent or less. In 2010 and 2011, there was no COLA al all because inflation was too low.
If the increase goes as plans, this means that those who rely on Social Security, well as the veterans' benefits, federal pensions or Supplemental Security Income will increase the typical monthly payment of $1,162 by roughly $17.
