Published on: October 15, 2015
The SSA's 2016 Cost of Living Adjustment rates have been published; however, that may not mean what you think for 2016. While past COLAs have resulted in payment increases for Social Security, retirement and SSI payments (sometimes even significantly), there will be no such adjustments in 2016.
Evaluating consumer activity and economic data collected by the U.S. Bureau of Labor Statistics from 2014-2015, the SSA has determined that significant increases in living cost have not occurred - thus, there's no need to raise benefit rates.
Our new guide, "2016 Cost of Living Adjustments and Social Security Benefits," contains everything you need to know about the SSA's annual benefit adjustments, including:
- The history and pre-history of Cost of Living Adjustments
- How the SSA uses Consumer Price Index information to make Social Security benefit changes
- Why there is no COLA for 2016, and how past COLAs have affected Social Security benefit rates
Access our informative, FREE guide today to learn all you need to know about the 2016 COLA, its history and how COLAs are applied to monthly benefit payments.