Social Security Question

Can I expect a cost of living raise (COLA) in my Social Security next year?
We haven’t had one for the past two years, and with the present sad state of the economy…
well, anyone?

Someone mentioned in another thread that the Cost of Living Index does not include food or gasoline.
Hence no COLA raises.

Don’t know about next year.
My wife and I are in the same boat-SSDI.

The COLA is announced in October of each year. But the current projections would seem to indicate a small COLA, maybe around 1% or so – all subject to change, of course.

“Although there is no wage base increase again for 2011, based on projections by the Social Security Administration, we will likely see a benefit increase in 2012,” Sacks said. “That increase will trigger operation of the wage base formula for 2012. That formula will take into account the cumulative net increase in national average wages during the previous two-year period during which wage base increases were barred due to the lack of a benefit increase.”

Thanks, all! Question answered. You guys are GREAT! :slight_smile:

I heard Obama opposes it. Perhaps announcing that next October will be the final nail in his reelection bid.

**Medicare increase could mean no Social Security COLA