No Cost of Living Adjustment for 2016 Social Security
Posted on Oct 18, 2015
Every year regulators review economic facts and figures to determine whether or not a COLA (cost of living adjustment) will apply to Social Security recipients. When a COLA is approved, recipients receive a small percentage increase in benefits starting the following year. Recently, officials decided that there will not be a 2016 COLA for Social Security recipients. In addition to affecting retirees, this announcement affects disabled individuals as well.
Individuals receiving Social Security Disability (SSD) or Supplemental Security Income (SSI) benefits will continue to receive the same benefits in 2016 as they did in 2015, pending they still qualify for the respective benefits.
Interested in learning more about disability benefits? Contact our North Carolina Social Security Disability attorney. Our firm also maintains a library of disability benefits information.