No Cost-of-Living Adjustment for 2016
Reading Time: 1 MinuteLast Updated: March 17, 2021
Social Security’s annual cost-of-living adjustment (COLA) is an increase in the benefit amount people receive each month. By law, the monthly Social Security and SSI federal benefit rate increases when there is a rise in the cost of living. The government measures changes in the cost of living through the Department of Labor’s Consumer Price Index (CPI-W).
The CPI has not risen since the last cost-of-living adjustment in 2015. As a result, your SSI benefit rate and, for most people, your Social Security benefit amount will stay the same in 2016.
This news isn’t necessarily bad. When inflation stays at the same rate, your cost of living also stays the same. Prices for goods and services, on average, haven’t increased enough to affect the COLA.
Other changes that would normally take effect based on changes in the national average wage index also won’t begin in January 2016. Since there is no COLA, the statute also prohibits a change in the maximum amount of earnings subject to the Social Security tax, as well as the retirement earnings test exempt amounts. These amounts will remain unchanged in 2016. The new fact sheet provides more information on 2016 Social Security and SSI changes.
For additional information about the 2016 COLA, go to www.socialsecurity.gov/cola.
For additional information about changes in the national average wage index, go to www.socialsecurity.gov/OACT/COLA/AWI.html.
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Tags: Cost of living adjustment, Disability, Medicare, SSA, SSI
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Jim Borland, Assistant Deputy Commissioner, Communications
Jim Borland, Assistant Deputy Commissioner, Communications
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Wizer
I know there’s not a lot of extra stuff that a person on SS can afford to have, but talking it down to the barest minimum seems to be the only way to make it any more. I have no cable, no real internet, and no frills at all. The impression I get is that once a person can’t physically work anymore, s(he) becomes a liability to society because we can’t work and pay in the money we used to. Young people hopefully will see the folly of depending on the government to take care of them in old age and will start putting money back as soon as they get their first jobs. Mason jars look pretty good these days.
LeaveAReplay
Assume a COLA of 3% for your SS benefit of $1000. So you get an extra $30 a month (not counting the effect of any Medicare premium increase). A whole $30! Every month! Wow! This buys some gas, or some beers, or dinner, or basic cable, or whatever stuff costs $30. Every month! Maybe spend less, save more, be prudent, get smarter, Blame everyone else for that $30. Bunch of knee jerks.
Jack P.
I will bet the do-nothing congress gets a raise along with other government employees.
What about the Military that really need it. Do they get a raise in pay?
Social Security Part B is going up 51%! How do you expect us seniors to cope with raising food and medical bills?
Yes, gas prices are down but we had to endure the extreme fuel prices last year without commensurate compensation.
We deserve a raise more that Congress or the Illegals. After all WE ARE THE SUCKERS THAT PAID FOR IT.
Angie H.
Obviously we do not shop in the same place, or have the same electric company. Electricity has gone up…food has absolutely gone up..wages not at all…Water has increased, the only thing that has gone down is the cost of gas and they never figured that in the COLA to begin with. Not to mention that the cost of insurance has gone up as much as 40 percent thanks to Obama Care. Who the hell is figuring this? You give our social security to people that do not deserve it..to people that have never worked a day in their lives, and seniors are left holding the bag. Please tell us what planet you were on when you figured that the COL has not increased..you sure were not on earth. I still pay into SS and you still take it out of my check and you dare to tell me that the cost of living has not gone up…You have got a lot of nerve.
Millie
What is wrong with the thinking of the Government? Of course they can say that the cost of living hasn’t gone up because they have the money to buy what they want or need and to pay their bills even if they do go up. This is off of the sweat on our backs over the years. They are so busy taking care if their own pocketbooks ,and keeping them fast. That they don’t bother to see our plight. Our utility bill has been allowed to rise another $8.00 a month. We can barely pay what we have to now. How can this be allowed? This county do not take care of it’s senior citizens at all! We still have to pay for a supplement to receive medical care. What did we pay into Medicare for? ,and what happened to what we did pay. We should not have money taken out of our Social Security each month for Medicare. Our money is going to those who has never worked and has paid nothing into the system , yet they take everything from us, and give us nothing.
RICH M.
Want to know whats up? Read. Ayn Rand on google. You can read Atlas Shrugged by her. She knew what was going on since 1930. Watch Ayn Rands life on Netflix. It will get worse. We are cattle to politicians. There should be a. 4 year term max. All, ha ha public servants should be on our social security system. Lobbyists should be allowed only expenses and small salary. It will get worse. It will be the super rich and the poor, no middle class. Believe me, watch the Netflix Ayn Rand documentary, if you do nothing else.
William T.
There are many great comments to ponder, I wish the
elected officials would look up the word “ILLEGAL”. then we wouldn’t have a problem sending them back where they came from and CLOSE OUR BOARDERS.
Maybe what we really need is a person who wants to
“MAKE AMERICA GREAT AGAIN” not a lot of false promises BS that we get from them. PAY BACK WHAT YOU TOOK FROM US!!!!!!!
Ken
Since there is no increase in COLA, that means no one in this country will get a COLA. Am I correct in saying that? What kind of idiot do you think I am? Listen to all these people talking on this site, LISTEN!!! EVERYTHING, Everything has gone up the past year except for gas. What planet are you people living on? I still have to rob Peter to Pay Paul. WHAT A JOKE!!!!!
rob m.
For those of you within the approximately 50 million voters
that chose Obama you need consider several facts in glaring evidence;
Nothing good can ever come from the election of a racist and bigoted, anti american, anti capitalist neo socialist.
Take time to read Obama’s autobiography and you will find many of his actions are illuminated. EG social justice,
unbridled , unstructured immigration and the view that America must become more UN compliant. Dad a Kenyan Communist, Mom a US socialist. (his own words)
For those believing the SSI is unaffected by unstructured immigration it is a “fools errand”. Every dollar spent or given to an illegal is a dollar not used for the betterment of Americans.
SSI can be easily fixed, unfunded debt is enormous and growing at an unsustainable rate.
That stated by an american in the economic strata that is 98 percent better that most retirees.
Lewis R.
This denial of the 2016 COLA is reprehensible given the fact of the high costs of food, services, drugs, and all other increases and pullbacks that confronts Social Security beneficiaries. We have no appeal option and our government has totally and unequivocally sold us all out and put us under the bus. Thank you Washington: the Obama administration and Congress for nothing. What else should we expect when you give away the store to everything else but to us, the senior citizen. We’ve given more than we have received.