The AARP has released an estimated increase of the 2013 COLA Increase for Social Security Recipients. The AARP’s estimate on the COLA Increase is 1.8 percent for 2013, much less than the 3.6 percent COLA Increase that social security recipients received last year.
How Does Social Security Figure Out COLA Increases?
Cost of Living or COLA Increases are figured by comparing 3rd quarter Bureau of Labor Statistics Consumer Price Index for Urban Workers to last years 3rd quarter statistics.
When Will The 2013 Social Security COLA Be Announced?
The 2013 Social Security COLA Increase for SSDI, SSI and other Social Security Program Recipients is published in the Federal Register in late October of 2012.