Social Security to See First Increase in Two Years

By: AP Email
By: AP Email

WASHINGTON 10/19/2011 -- After two years without an increase in benefits, 55 million Social Security recipients are finally getting a raise next year.

Experts project the increase will be about 3.5 percent. The Social Security Administration is scheduled to make it official Wednesday when the government releases an inflation measure that determines the annual cost-of-living adjustment, or COLA.

There was no COLA in 2010 or 2011 because inflation was too low. Those were the first two years without a COLA since automatic increases were adopted in 1975.

Monthly Social Security payments average $1,082, or about $13,000 a year. A 3.5 percent increase would amount to an additional $38 a month, or about $455 a year.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Helen Location: Colorrado on Oct 19, 2011 at 05:52 PM
    i most certainly smell-A RAT IT WAS NOT TAKEN INTO THE FAT THAT THE SENIOR'S ARE DIGING THE TRASH FOR FOOD AND THE COST OF OUR MEDICATION COST IS INCREASED. MY BIBISY CONCERN THE RICHER MR.PRESIDENT SALARY INCRESED
  • by Ernie Location: Tallahassee on Oct 19, 2011 at 04:17 PM
    Great. I can use it. At the same time I wouldn't vote for Obama or any liberal Democrat no matter how many last minute enticements they toss in our direction. There is always a catch and someone always has to pay...
  • by Georgia Boy Location: Cairo on Oct 19, 2011 at 03:35 AM
    Anyone smell a rat? It is approaching an election, Obama is in trouble with the seniors, and suddenly Social Security is able to increase payments. Of course, there was no money for increases in the last two years, despite billions being thrown away to supporters of Obama. Yep, I smell a rat, and his name is Obama.
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