Social Security recipients expecting historically small increases

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Posted: Sunday, October 13, 2013 8:17 pm

WASHINGTON (AP) - For the second straight year, millions of Social Security recipients, disabled veterans and federal retirees can expect historically small increases in their benefits come January.

An Associated Press analysis of preliminary figures suggests a benefit increase of roughly 1.5 percent. That would be among the smallest raises since automatic increases were adopted in 1975.

Next year's raise will be small because consumer prices, as measured by the government, haven't gone up much in the past year.

The size of the cost-of-living adjustment won't be known until the Labor Department releases the inflation report for September. It's been delayed indefinitely because of the partial shutdown.

The Social Security Administration has given no indication that raises would be delayed because of the shutdown, but advocates for seniors say the uncertainty is unwelcome.

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Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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1 comment:

  • Yoshi posted at 9:56 pm on Sun, Oct 13, 2013.

    Yoshi Posts: 1

    So let me get this straight....a 1.5% raise, so roughly $10 - 15 a month. And how much is Medicare going to go up to help pay for Obamacare? I highly doubt that it will only increase that amount, actually the last time I checked the Medicare website, it was set to increase approximately $20 but that was before the debt ceiling issues. However, this still means that our seniors and disabled who are struggling to make ends meet, make too little to get the subsidies for Obamacare and too much to qualify for Medicaid, will actually have less put into their bank accounts than last year! Anyone see a problem with this?

     

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