Social Security COLA going up only 1.5%, smallest increase in 38 years

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Associated Press
October 30, 2013

The seal of the SSA.

The seal of the SSA.

Social Security benefits for nearly 58 million people will rise only 1.5 percent next year, among the smallest increase since automatic adjustments were adopted in 1975, the government announced Wednesday.

The cost-of-living adjustment, or COLA, is based on a government measure of inflation that was released Wednesday.

The increase was small because consumer prices, as measured by the government, haven’t gone up much in the past year.

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This article was posted: Wednesday, October 30, 2013 at 11:29 am

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