Social Security raise to be among lowest in years

Print
Email
|

Associated Press

Posted on October 13, 2013 at 7:34 AM

Updated Sunday, Oct 13 at 9:04 AM

WASHINGTON (AP) — For the second straight year, millions of Social Security recipients, disabled veterans and federal retirees can expect historically small increases in their benefits come January.

An Associated Press analysis of preliminary figures suggests a benefit increase of roughly 1.5 percent. That would be among the smallest raises since automatic increases were adopted in 1975.

Next year's raise will be small because consumer prices, as measured by the government, haven't gone up much in the past year.

The size of the cost-of-living adjustment won't be known until the Labor Department releases the inflation report for September. It's been delayed indefinitely because of the partial shutdown.

The Social Security Administration has given no indication that raises would be delayed because of the shutdown, but advocates for seniors say the uncertainty is unwelcome.

Print
Email
|