1.5% social security wage increase

  • 0

SARASOTA FL, --- Social Security recipients will see a modest wage increase come 2014.  The Social Security Administration announcing it is implements a cost of living increase of 1.5% for nearly 63 million people. 

The increase is tied to the Consumer Price Index figurers from the 3rd quarter of 2012 to the 3rd quarter of 2014, which officials say has seen little gain.  The majority of recipients will see the increase payments come January 2014 with a small portion of the population receiving their first increased payment in December of this year.  Coming up on ABC 7, at 6 we explore the change and find out how social security recipients are responding.