Social Security Beneficiaries To Receive ‘Extremely Small’ Cost Of Living Adjustment

Share on facebook
Share on twitter
Share on linkedin
Share on reddit

The Social Security Administration announced a 1.3% cost of living adjustment (COLA) for 2021Tuesday, increasing the amount the program’s 64 million recipients will receive.

However, the adjustment will not amount to much. The average monthly benefit people in the program receive will increase by just $20 a month from $1,523 to $1,543. The COLA adjustment is the smallest in the history of the Social Security program.

Fox News reported it’s also the fifth time since 2010 that the COLA adjustment will be extremely low or there was no adjustment at all, according to the Senior Citizens League.

“People who have been receiving benefits for 12 years or longer have experienced an unprecedented series of extremely low cost-of-living adjustments (COLAs),” Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League, said in a statement.

The COLA adjustment is 1.6% this year, 2.8% last year, and 2% in 2018. In 2016 and 2017 the COLA adjustment was a combined 0.3%

COLA adjustments, which began in 1975, were created to counteract the costs of inflation. However, senior advocacy groups say costs have risen faster than inflation. According to the Senior…


Leave a Reply


Sign up for our Daily News Briefing

Get daily news delivered to your inbox. 

Build for us, by us...

Social Community

Breaking News

Business Directory



Forge Your Kingdom...

Community is Everything: Build a tribe of inspiring friends. Build a community, of like-minds, who will give you the strength to act on your ideas and inspire you to be the best version of you.


Connect, Share, & Grow! Share your stories!

Mobile Friendly

Access the community from any device.

Buy Black

Thousands of minority-owned businesses at your fingertips.