Though the cost of living expenses have increased over the past year, Social Security beneficiaries will not see an increase to compensate.
Many seniors believe they’ll feel a financial pinch if they don’t see an increase in their Social Security checks.
According to battlecreekinquirer.com, a yearly increase was based on a cost of living allowance, and the Social Security Administration has argued that, under existing law, there can be no increase.
The Consumer Price Index used to calculate the COLA has shown no cost of living increase from the last time it was determined in 2008.
Do you agree with the method used to determine the cost of living in the United States? How do you think the value of living expenses should be calculated otherwise?
If you need help getting Social Security benefits you deserve to get your put your life back on track, the Social Security lawyers at Fleschner, Stark, Tanoos & Newlin can help.
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