The Social Security cost-of-living adjustment (COLA) is a mechanism to help offset higher costs due to inflation. This year’s COLA is 2.8 percent. That equated to about $200 more per month for beneficiaries. How it comes up with that figure can be quite confusing. But we found a short video put out by Clear Social Security that explains in clear and simple terms what the COLA is, how it’s calculated, and why it exists within the Social Security system.
Council of Seniors Wants to Give Retirees More Money
Those of us here at the Council of Seniors value the importance of the Social Security COLA. We believe we should be increasing it, not cutting it. We want Congress to passThe SAVE Benefits Act. This crucial bill will put $581 back in seniors’ pockets to make up for Social Security cost-of-living adjustments that were far too low for years.
Greedy Washington politicians are using retirees’ hard-earned money in other ways, but we’re dedicated to giving it back to those who are rightfully entitled to it.
Please take a moment and sign our petition today to show your support.