No Cost-of-Living Adjustment for 2016

Social Security’s annual cost-of-living adjustment (COLA) is an increase in the benefit amount people receive each month. By law, the monthly Social Security and SSI federal benefit rate increases when there is a rise in the cost of living. The CPI has not risen since the last cost-of-living adjustment in 2015. As a result, the SSI benefit rate and, for most people, their Social Security benefit amount will stay the same in 2016. MORE

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