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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Desert T.
There is no COLA due to the fact that America is bringing over all these migrants and refugees. They get way more per month than any of us little people who are struggling to pay for medicines and basic needs. If I could I would be out taking care of my self, but that fact remains I cannot. The Veterans and the disabled are the ones who are stepped on now a days. If our President, Senator John McCain, etc. had to give up some of there yearly income to pay the benefits for these 100,00 citizens of another country they would do an about face. Things are just gonna get worse for us and better and better for these migrants.
Dawn H.
This is bad for me and the rest of the USA. Our water well went dry and there is no extra money to do anything about it. My clothes are wearing out and no money to buy anymore, I know i am not the only one in this fix their are others also. Food is up and other things also have went up so do not tell me the cost of living has not increase it has. We can not get help because we make to much.
Desert T.
If the water well went dry then Obama shouldn’t be bringing over 100,00 citizens of another country and giving them $1250 a piece…..
Lisa
For those of you who think welfare recipients got a raise, they didn’t. Welfare consists of either SSI or SSDI, neither received a cost of living increase. The average is about $700 a month…I don’t know about a raise in food stamps, but the average person receives $60 per month. Now if you have ten people in your family, that adds up.. But per person, it’s $60. If you are disabled, try living off of $760 a month. Everyone wants to blame the least among us… I keep saying, look up, the sky is falling.. Corporate welfare is what’s killing us.
Desert T.
There is a big difference between Welfare and SSI/SSDI. You have to have a kid to get welfare and ssi/ssdi is for people who are disabled. There are also lots of children getting SSI. Then when they are 18 they go through a simple interview and get to keep receiving it until they die.
I think parents should support their own children not SSI; And all people should have to go through the Department of Rehabilitation and cooperate in order to be considered for SSI/SSDI benefits.
Cheryl M.
Personally, I have paid in to SS for almost 50 years at which time I paid into Medicare all those years. Now, I’m retired and I’m still paying for Medicare, however, Medicare doesn’t cover every thing, therefore, I have to pay for a supplemental insurance. Plus, I read that the 7.65 that I had to pay into SS and the 7.65% that my employer paid into my SS (total 15.30%),of which, 1.45% goes to Medicare and the balance goes towards SS and I still have to pay co-pays, prescriptions and 20% for DME for some items. Plus, I pay for those whom do not have medical insurance. I don’t mind helping those whom are physically or mentally ill but those whom are on drugs/alcohol should be given a choice. Be treated for you addiction or there will be no food stamps, housing or medical insurance. Also, if these individuals are capable of working send them out to do some work for their community (example: pick-up trash, sweep the sidewalks, etc.). It’s called “Tough Love”. These individuals should payback their community for their bad decisions.
Personally, I would like to get paid back the SS I’ve already paid in and the monies my employer has paid in to my SS and take SS out of our governments hands. After all, it appears that we the people suffer when we allow our government to run our lives (example: Medicare, COLA, immigrants, SS, etc.). Since our government won’t make sense-able decisions regarding our lives and in a timely manner the people should be allowed to vote for the above. I’ve gotten off the beaten path but all of this should have high priority.
Moneyman
If we live to a very old age we’ll get back 5 times what we put in, so think about it seriously. If you take a lump sum and that won’t happen you would be broke within ten years or less.
Sophia
While the cost of living may not have risen many people are feeling the pinch, and it is always that way – you don’t need the cost of living to rise for you to struggle with money. Many people do that every day so it doesn’t really help when the government says that things are not more expensive. But, that said, you do need to make sure you are getting all you are entitled to in terms of benefits, and you can also look into other forms of assistance to help pay rent, or childcare etc. You need to do a bit of research but there are other forms of assistance available.
Jen
So many comments I agree with here. In our state we have seen huge price increase overall. Food prices advanced 0.8 percent for the two months ending in August. Prices for food at home increased 1.0 percent, and prices for food away from rose 0.4 percent for the same period. Over the year, food prices rose 3.3 percent. Prices for food at home moved up 3.3 percent since a year ago, and prices for food away from home advanced 3.2 percent. Prices paid for electricity advanced 6.1 percent, and prices for natural gas service increased 5.3 percent during the past year ALTHOUGH the cost for gas companies dropped 11.5% !!!!! Over the year, the index for all items less food and energy advanced 2.8 percent. Components contributing to the increase included shelter (5.4 percent) and household furnishings and operations (1.4 percent). Partly offsetting the increases was a price decline in apparel (-1.4 percent). Where are they getting their information??? Thoughts tell me we need to look at social security state to state because I sure know there is a huge difference in cost of living from state to state. Wow.
Tom P.
You guys floor me. i looked at the first 100 of the comments here and not one of them indicates the least bit of curiosity about the financial forces at work in the COLA robbery.
The short version: U.S.Treasuries are in trouble, which is to say that the .001% is in trouble. Our COLA money is being stolen from us to prop them up.
I fear not one of you will take the trouble to figure out what i’ve just said.
The great virtue of democracy is that the people get exactly the government which they deserve.
Peter I.
It might be time for rent and price controls like back in the 70’s!
PAT F.
What kind of bull is our government pulling on us with all this Social Security crap?
They supposedly borrowed two and a half trillion dollars from the Social Security fund and make like it never happened.
Because the of gas go’es down, our Social Security doesn’t get a COLA increase.
Well now the gas prices are going up, does it mean we will get it.
How stupid does the United States Government think we are? I would guess, “Pretty Damn Stupid.”
Min. wage is going up and so will the cost of everything (Duh!).
Minimum wage a one time was twenty five cents. A gallon of gas was seventeen cents.
It’s only common sense when wages go up so dose every thing else.
People who are working are constantly putting money into the fund along with monies from employers.
The problem is they (The Government) so called borrowed the two and a half trillion from the fund, they never counted on the baby boomers.
Of course what they did count on was not paying it back.
The remedy’s and only one will work, and one will never happen is: The baby boomers will eventually die off but the government for the people will not pay back what was borrowed. Maybe I should say stolen from the people who paid and are deserving of Social Security.
Agitated,
Pat Fontana
Kate R.
Well, why don’t we blame immigrants for our problems rather than the Republican party who pushes for the reduction of 99% of social benefits for Americans. Don’t believe it, check their voting records available online. Or how about all the corporations that don’t pay taxes (because they incorporate in low tax countries) and outsource all the GOOD jobs so they can pay foreigners a dollar an hour. Our good jobs are now overseas. The nasty, low-paying jobs that most Americans don’t want are being filled by illegals who
1) pay taxes (through payroll taxes), including social security taxes, even though they will never get social security.
2) Illegals ARE NOT eligible for welfare, food stamps, Medicaid, or most other public benefits. “Undocumented immigrants contribute more in payroll taxes than they will ever receive in public benefits.” (CNN)
3) Illegals are eligible for emergency medical care. Some call this being humane, others being christian.
So if those illegals aren’t at fault, then who?
The congresspeople who voted down the programs to get Vets back on their feet or fund VA hospitals, voted down help for students with overwhelming educational costs (99% Repubs all). And the CEOs (making zillions) who went to Obama saying SS benefits need to be cut (list of these CEOs is online along with copy of their letter). And corporations who don’t pay taxes and outsource the good jobs to other countries. Whose profits are soaring but aren’t paying their workers more. Union busters who get rid of unions so they can pay workers peanuts. Wall Street and the Banks (who pay minimal taxes) who shattered the economy in 08 so regular people lost their homes, savings, and retirement savings.
Do your research before you blurt out crap. Find the real statistics, not the blog blatherers, and know who is really eating away at the well being of the middle and working classes. Check out CNN for example.
http://money.cnn.com/2014/11/20/news/economy/immigration-myths/
Bjob
Obama does not care about those on Social Security or our Vets. He provides for the Illegal Aliens and Refuges so that he can be sure of their Liberal vote when they one day can vote. The Minority thus becomes the Majority since for the most part, the Majority is too lazy to vote.