In case not everybody knows, there is usually an increase in Social Security benefits for most years that begins in January. The increase is called the Cost of Living Adjustment–or “COLA”. I won’t get into a lengthy explanation but basically the increase is based on how the economy is doing. The COLA fluctuates each year; it can go up or down. There was no increase last year. This year it is 0.3%. I get $964 a month, my benefits will go up by about $3.00.(if my math is correct)
1 Like
That is a ridiculously tiny amount. I am sorry the beurocrats are like this.
This COLA seems to be a refreshing news!!Lol!
1 Like
The Cost of Living Adjustment (COLA) is directly tied to inflation, and one of the larger components of inflation is energy ( particularly the price of gasoline). The price of gasoline basically stayed the same throughout the year, so the COLA increase is a tiny 0.3%.
Here’s the cruel part: A large percentage of the people whose sole source of income is Social Security cannot afford a car. 
1 Like
Hopefully next year they increase it a lot when minimum wage may go up to $15, increasing the price of living by a hell of a bundle. Ps I’m against the minimum wage going up to 15. But if it does, they HAVE to increase it. ■■■■ by like hundreds of dollars because that’s how much cola will go up!!! They won’t though and it’ll be bad news for people who rely on disability … Not to be a pessimist but brace yourself if $15 minimum wage happens.
1 Like