Each year, Social Security recipients usually see a modest increase in their monthly checks. The increase is called the Cost Of Living Adjustment, and somewhat mirrors the previous year’s inflation.
This year’s COLA is 5.9%- the biggest the nearly 40 years. COLAs have been modest throughout the years, averaging a 1.65 percent. And there wasn’t any increase at all to benefits in 2016.
I get SSDI because of permanent disability, and it is my main source of income. The increase helps, but it really doesn’t do anything because prices keep increasing at a faster pace!
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