Seniors were understandably disappointed with the Social Security cost of living adjustment (COLA) for 2021, given that it was only 1.3%. It’s clear retirees want – and deserve – fair COLAs each and every year.
Between the cost of living going up in many states, expenses for seniors rising, and people delaying retirement because they can’t afford their basic needs, an increase to the COLA would be a decent start.
A new Kiplinger estimate indicates that the COLA for 2022 is projected to jump to 3%, which would definitely be good news for retirees. It might not amount to a large sum of money going back into your pocket, but it’s still money that you’re entitled to.
COLA Increase Has Been Withheld for Years
Even if the 2022 COLA winds up being increased to 3% or more, that doesn’t make up for the fact that for years, you didn’t receive the annual COLA that you were entitled to.
Instead of giving seniors that money, greedy politicians in Washington decided it would best be used for other reasons, which is why fair COLAs were denied over and over again.
If you’ve been following along with our efforts here at Council of Seniors, then you know it’s our goal to get Congress to pass The SAVE Benefits Act. If we can get this bill passed, you’ll finally get back $581, which is the total of the COLAs that were never paid out.
If you’d like to help us get one step closer to this bill being pushed through, please take a moment and sign our petition. With every signature, we show Congress that they can’t keep brushing off seniors and refusing to give you the money you worked so hard for.
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