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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Wm A.
Both me and my spouse are on Medicare and rely on each on a COLA increase. Each time we don’t get an increase my blood pressure increases.
Barbara
Everything has gone up, you can’t tell me the cost of living has not gone up, we, the real people know this because we live in the real world. You government people live comfortably while others (the lower income people) are struggling to pay bills and buy food. You people only care for what’s good for you.
Gail G.
I agree with all of the commenters, aand I think the big wigs in Wash. regardless of party, are sitting on their warm seats not caring about us seniors or rreal disabled persons, because they don’t have to worry with their big bucks they reeive.
The formula is crazy. I guess they have not gone groceory shopping etc at all or they would definitely know that everything has gone up at least a dollar or more.
Thanks for letting me vent my frustrations.
Jim C.
All of the above remarks have been exceptional said and are correct as logical expressions can be! All of the items listed are basic needs. If the items mentioned cannot be overriding factors, tell us what we are missing.
April
I’ll tell you the only thing that is not going up is my wage. After 30 years on one job, I was laid off, no pension, nothing. Now starting over, all they want to pay is $12.00 an hour to start anywhere, I’m making no way where near what I used to, but everything else is going up. Gas, food, clothes,…, my husband has been on a wage freeze for 3 1/2 years. All these politician are double dipping as well as some of the administrators. My husband worked in the private sector for over 20 year, served in the Navy 4 years, and now works for schools. They want to take his social security away, because he has a public pension, that’s a bunch of B.S., he paid into all those years, he should get both, he earned it.
Kathy
I worked at the same job for 42 years. I paid into SS with the idea that I would receive enough money to get by in my golden years. . Not happening. I worked for .28 an hour and before I retired I was making $42.00 an hour. My SS is so low that I am losing my home and trying to get by on almost my starting pay.
Wilson
Its nice how they can double dip, but when was medically retired and received a severance package from the military was told would have to pay back, plus the taxes already deducted and paid for from it for it for the next 20+ years, because vets cant receive pay from both systems at the same time the VA said, so have to live on half my disability for the next 20 years, so will not see any cola next year either when have to pay more for living expenses.
Margi
Donald Trump for president, NOW!!!
Ray
Keep sending our money overseas the hell with us who have worked for this.
Joe B.
The time is coming for a revolution
Kathy
I will be right there with you!
sirMAXX
I’m feeling it too.
wkersanty@aol.com
Are you kidding me? Everything has gone up, can’t imagine how they came up with their figures, totally irresponsible.
Anne B.
This is total BS and not true to facts. Yes has prices are down but that is the ONLY thing that is down.
Food prices are way up from last year, electricity, cable , internet, medical just to mention a few. Yet congress is getting a raise which is totally unfair. Thanks for caring about nothing for us who only have SS to live on.