Social Security Recipients Can Expect Tiny COLA

Posted on 10/10/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsSocial Security recipients, don’t get your hopes up. Next year’s cost-of-living adjustment will raise benefits by 1.5 percent to 1.7 percent starting in January, about half of this year’s 3.6 percent hike, according to an estimate from the American Institute for Economic Research. Economists at the AIER made their prediction less than two weeks before the Social Security Administration announces the official COLA on Oct. 16. The COLA won’t be enough to cover higher prices for food and other everyday purchases, …