Social Security Benefits Will Increase For 2012
Cost-Of-Living-Adjustment will cause the first rise (3.6%) in SSI in about three years:
COLA: We are not talking about the delicious drink here, but this COLA may be even more satisfying then ever popular bubbly beverage. This version may end up putting an average of about $450 more dollars a year in your pocket!
We are talking about the Cost-Of-Living-Adjustment, which was designed to offer SS and SSI benefits some protection from inflation. Automatic annual COLAs have been in place since 1975, where before increased benefits would only come from special legislation. Since the average annual SS payment totals to be around $13,000, beneficiaries may receive around $455 more a year.
CLICK HERE FOR THE SSA’s COLA BREAKDOWN FOR 2012
CLCIK HERE FOR SENIOR HOUSING NEWS’S ARTICLE ON THE COLA FOR 2012
CLICK HERE FOR THE AARP SOCIAL SECURITY SECTION