Did Social Security recently raise Social security for those who get it and if so how much? Do'nt they always make it higher every
year due to the rising cost of living?
2007-12-13 10:46:15 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Cost of living allowances take effect in January. The SSA announces the next year's COLA in mid-October. The 2008 COLA is 2.3%
Calling this a raise is misusing the term. You get a raise from your employer, not the government.
2007-12-13 10:54:16 · answer #1 · answered by STEVEN F 7 · 1⤊ 0⤋
The Social Security Administration has informed recipients of the amount they will receive next year. The amount is higher than last year due to a cost of living adjustment (COLA). The announcement also includes information on next year's Medicare deduction. The 2008 COLA is 2.3%, the medicare deduction is $96.40 per month.
2007-12-13 13:07:19 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Yes, Social Security payments increased by 2.3%. But inflation was 2.5%. So people receiving Social Security payments will effectively receive virtually the same thing next year as they did this year.
2007-12-13 14:30:16 · answer #3 · answered by Plea_of_insanity 5 · 0⤊ 0⤋
i are starting to be a strengthen each 3 hundred and sixty 5 days considering that receiving Social secure practices. My strengthen for 2008 is $29.00, after medicare deductions. As individual who contributed to Social secure practices all my lifestyles I have not got any problem accepting it. although, I additionally am grateful for receiving it. Social secure practices replaced into enacted for the elderly to stay with a splash dignity of their final years. the unhappy ingredient approximately Social secure practices is your representative & mine has systematically robbed the SS fund by way of the years. If no longer for this stealing of that funds, persons of despite age immediately, would desire to anticipate receiving it. I lsten to the applicants & all of them yet one, Ron Paul, advise raising the age limits and/or lowering advantages. never a be conscious approximately combating the raiding of the SS fund. basically Ron Paul Has the "guts" to tell it love it extremely is. i urge of you, hear to those applicants. undergo in concepts, those individuals are all millionaires. Do you think of they provide a hoot approximately $1000 a month in earnings that Social Securtiy provide or provide you? Please do no longer depart the speaking heads on television elect your vote!
2016-10-11 05:49:17 · answer #4 · answered by ? 3 · 0⤊ 0⤋
There is a COLA adjustment every year. The amount varies.
2007-12-13 10:53:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i sure hope not.
2007-12-13 10:53:48 · answer #6 · answered by mikki080 4 · 0⤊ 3⤋