Social Security Administration says no COLA for 2016

Information courtesy of the Social Security Administration

65 million Americans will not receive a cost of living adjustment in 2016

The Social Security Administration has announced that there will be no cost of living adjustment (COLA) next year. Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 65 million Americans will not automatically increase in 2016.

The COLA is determined by inflation as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). According to this measure, consumer prices were down in 2015, so under the law, there can be no COLA for 2016.

The CPI-W is essentially a list of changes in the price of goods and services purchased by clerical workers, sales workers, craft workers, operative, service workers, or laborers. The CPI-W does not count purchases made by retirees or people not in the labor force.

More information:

For questions, please visit your local Social Security office or call 1-800-772-1213 (voice) or 1-800-325-0778 (TTY).

Doug Schmidt
Act Team Coordinator
The Fifth Freedom Network

Fifth Freedom is a not-for-profit organization that strives at all times to be non-partisan. The content of this post is provided for information purposes only, and does not express or imply support for any particular political party, politician, candidate for office, or piece of legislation.

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