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In other words, the 2024 COLA will exclusively depend on inflation data from July, August, and September. And until September's CPI data is made public, we won't know for sure. Having said that ...
The U.S. Social Security Administration announced Friday that beneficiaries will receive a 2 percent cost-of-living adjustment, or COLA, next year. 2018 Social Security bump is biggest in 6 years ...
Source: Social Security Administration. Since 2014, the average COLA has landed at 2.6%. In some ways, it's a good thing that these adjustments are much lower than they were decades ago.
As a result of the 2008 financial and mortgage crisis, a hefty 5.8% increase in COLA was applied in 2009, the most significant increase that Social Security benefits had seen since 1982.
Image source: Getty Images. 1. Monthly benefits got a raise. Inflation has made its mark on many of our products and services, from groceries to housing to healthcare to seemingly everything in ...
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2018. 2.0%. 2017. 0.3%. 2016. 0%. ... Over time, your benefits will increase if the COLA indicates an increase, of course. The maximum initial monthly benefit for 2024 by retirement age:
The increase in COLA can allow you to offset some of this added cost. Additional facts. Here are some additional facts about COLA and what to expect for 2025. ... 2018. 2.8. 2019. 1.6. 2020. 1.3 ...