A cost-of-living-adjustment means that Social Security recipients will get a 1.7% increase in retirement benefits for 2012, which should translate into an extra $21 per month.
That's a minor bump compared to the 3.6% increase in 2012.
But don't lose sight of the big picture; the 2013 cost of Medicare Part B premiums will be announed later this month. That cost increase might wipe out the Social Security income increase, and then some. Stay tuned!
It definitely seems low when you compare it with the 3.6% increase, but I suppose we'll have to wait and see how everything works out.
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Posted by: europages | November 13, 2013 at 09:25 AM