There’s a lot of criticism about the Social Security cost-of-living adjustment (COLA) and how it can’t keep up with inflation. But, as poor as it’s been, it sure beats the Social Security death benefit — which has remained unchanged since the 1950s.
An article by MSN explains that Social Security sends a one-time payment of $255 to the grieving spouse. The problem is that the lump-sum death payment was never indexed to inflation the way monthly retirement benefits are. This is why the article says a “benefit that might have covered a modest funeral once before now barely covers the cost of flowers.”
Council of Seniors is Here to Help Older Americans
Older Americans worked long and hard and deserve to live a comfortable retirement free from financial strain.
All of us here at the Council of Seniors want to improve retirees’ financial futures – and that starts with Congress enacting The SAVE Benefits Act. The passage of this bill can make up for Social Security cost-of-living adjustments (COLAs) that have let you down in recent years. If it passes, $581 will be returned to eligible seniors.
Sign our petition right now to show you’re on board with our effort.