Fountain Valley News - Your Hometown Community Newspaper

Biggest raise in decades for Social Security?


Last updated 8/25/2021 at 10:17am

Don't count your money before it's in hand, of course. But word is that the Social Security increase we see in January could be as much as 6.1%, the largest since 1983.

For the average benefit recipient, currently receiving $1,543, that could amount to $94 per month. It's a few years too late for a serious increase, but certainly better than the 1.3% bump we saw for 2021 and the 1.6% the year before.

Social Security is calculated by the cost-of-living adjustment in the third quarter each year. For 2021, they calculated that a 1.3% increase should be plenty. We know that was wrong, as prices...

For access to this article please sign in or subscribe.


Reader Comments(0)


Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2021