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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John
We get taxed to death and we see it by prices that are skyrocketing. QE is a actually a tax when the Fed prints money each and every month to the tune of billions of dollars. So we should be happy the cost of living hasn’t gone up because of gas prices?
Pepe
Some of us are barely making it and depend on the small increase every year. Those on welfare do better than us, so isn’t it about time we did better than them since we did work to receive this benefit. Retirees sometimes feel why did I retire because the benefit is just not enough to make it monthly, so we have to raid our savings account and it wasn’t suppose to be that way. Those on SSI sometimes get more than those that get regular social security and they worked most of their life. Those on SSI didn’t work that much, so that’s why they get SSI and Medicaid to top it off.
Dave
you watch, the Government will give themselves a behind closed door raise!
Leslie S.
It’s ridiculous to say that the Cost of Living has remained stable. Yes, gas prices have gone down, but the cost of food hasn’t. My rent increased 3% this year. Last winter my budget electric bill increased 60% and didn’t go back down when summer came. Our health insurance premiums have increased as well our co-payments. Nationally we pay more for internet service than Europe and Asia. The government has made it more difficult to collect SNAP benefits . In short, all the SSA is doing is continuing to administer the shaft that the rest of the economy is giving to the senior citizens. Thanks a bunch NOT.
R.Alexander
Must have not been want you want to hear believe that if you silence the truth you prevail not so God always WINS
Dave E.
Wake up America, everything mentioned so far is correct. Don’t expect an answer from the SSA message sender, as I strongly believe he won’t read any of our messages or isn’t concerned about how we feel right now. Our government is too big and our POTUS doesn’t care either. Contact your Congressman/woman & Senators whether Dem or Rep that you can’t donate any fund money for their reelection because of our needs weren’t met. Just return all mail and not answer any phone calls. If you attend town hall meetings let them know how stongly you feel about this issue and let them know by your power of your vote in 2016.
John O.
There have been times in the past when this happened. The article should have mentioned Medicare premiums. There were times in the past when a small increase was approved in spite there was no so called inflation. It was an election year. Politics drives what happens, wait until next year. By the way in election years the increase was reduced the following year to offset the increase.
Felix M.
Hey. I agree with your comments! I thought the USA was suppose to take care of us. I worked 50 years then retired. I only got a small check. Even being a Veteran is no help. We need a new President! !
Larry
Don’t blame the illegals. Thats exactly what the one’s whose responsible want you to blame. Just to keep your attention geared from the truth. Illegals been coming to the US before you was born.
jrgeddes
Well said.
Bill
Oh please!
Robert R.
I posted a comment, but it must have too hot to handle. The Gov.’t owes our fund 2.75 trillion dollars and they have the IOU’s to show that they OWE us.
Robert R.
My other comment is on the blog spot re; procrastination……………. read more……..
George
Its egregious what goes on in this country we had a revolution for lot less… The FACT IS EVERYTHING IS Exorbitly high but WAGES.. ITS CLEAR THE GOVERNMENT WANTS TO CUT SSI & SSDI IN ADDITION TO MEDICARE THERE OVERLY AGRESIVE TECHNIQUES ARE BEING IMPLEMENTED THROUGH DEPARTMENTS……
Marsha
OUTRAGEOUS!! People in Congress needs to try to live on $899.00 a month, rent $700.00. Gas in California never did get under $3.00 a gallon, just because gas went down for 2 months consititutes no COLA raises? Everything else has gone up. What planet does the people in Congress live on? DISGUSTING!!
VOTE THEM “ALL” OUT!!