Cost of Living Adjustments (COLA) are a vital adjustment for people receiving Social Security Benefits through: Social Security Retirement, Social Security Disability (SSDI), Survivors benefits and Supplemental Security Income (SSI). Today we are seeing an unprecedented increase in the cost of living especially because of increased transportation, housing, and food costs which have all dramatically increased over the last few years. This year there has been a big spike in food prices as result of the pandemic. These increase especially hurt Americans who are on fixed incomes usually through programs like Social Security or Railroad Retirement Benefits. On a year to year basis the Social Security Administration will provide a Cost of Living Adjustment (COLA) to help compensate for the increased cost of living. But this has not always been the case. Today we are going to talk about the Social Security Cost of living Adjustment (COLA) how it started, the history of its increases and why it may not happen in 2021. Please do not forget to like and subscribe.

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