In 2023, people who receive Social Security benefits saw a substantial increase in their payments due to the cost-of-living adjustment (COLA). As a result, retired workers are likely hoping for a similar adjustment in 2024.
Tag: Cola
Don’t Expect Too Much Out Of The 2024 COLA
If the current trend in inflation rates continues, the Social Security cost-of-living adjustment for 2024 might be far below 3%. Depending on what transpires in the third quarter, there is a good probability that no COLA will be awarded to recipients in 2024.
Six Changes To Social Security Expected In The New Year
Social Security will be witnessing many changes in 2023; many connected to the highest cost-of-living adjustment (COLA) in more than 40 years. The new COLA will affect payments to Social Security claimants, but it’s not the only change you will notice in 2023.
Beware: Scammers Using Social Security COLAs To Get Your Information
Inflation has caused a rise in Social Security payments, and now fraudsters are flooding phone lines claiming to assist individuals in obtaining their benefits.
Here Is What To Know About The Effect Of The COLA Increase On The Snap Program
Certain restrictions, including household income limitations, must be satisfied to be eligible for the program. Because the cost-of-living adjustment (COLA) would increase the amount of money given out by Social Security each month to account for inflation, many are still determining if they will be able to continue receiving SNAP benefits after the COLA is implemented.
The Misconceptions About The Upcoming Social Security Increase
There are still many misconceptions regarding this upcoming benefit increase. All receivers should be aware of three facts concerning Social Security.
