social security

2015 Social Security COLA Increase

I’ve received a few questions already asking what the 2014 Cost of Living Adjustment (also known as COLA Increase) for Social Security Recipients would be.  The Cost of Living Adjustment is paid out to all social security recipients, including those on SSI, SSDI (Disability) and RSDI (retirement) in order to cover the increased expenses in the last year.

How Will The 2015 COLA Increase Be Determined

Social Security determines the Cost of Living adjustment for 2015 by looking at the cost of living for Urban and Clerical Workers (CPI-W) from the third quarter of 2013 and comparing it to the CPI-W for the 4th quarter.

When Will the 2015 Social Security COLA Increase Be Announced

The Social Security COLA Increase for each year is typically announced in late October, however it is easily determined by looking at the CPI-W for the third quarter as its released by the Bureau of Labor Statistics.

4 thoughts on “2015 Social Security COLA Increase”

  1. since gas food and all consumer items which are all needed to sustain the poorest way of life are not considered a cost of living probably not enough to make a difference the last decent raise we had came in the george bush era 6.4% since we have had 2 years of nothing which is the first time since the 1970,s and 3 years of insulting raises which made no difference ask one of obama’s good wall street buddies if they could live on $750.00 per month they spend that much on a weekend meal at a fancy restaurant maybe they should try a happy meal what is more disturbing they consider ss an entitlement not all but most people on ss paid in there whole lives with a promise of security after retirement this is a GD DISGRACE

  2. CONGRESS VOTES THEM RAISE SSI PEOPLE GETS NOTHING CONGRESS ARE TO TRY LIVE 600
    .00 MONTH THEY TAKE OUR SSI AN THEY SPEN IT ON OTHER SUCH AS THEM SELF TALK ABOUT STEAL OUR MONEY

  3. I agree with Jack Taylor & William Barker completely. Increases in gas & food prices need to be included in the COLA formula. These are things we need to live!! And another thing….Medicare does not pay for glasses, dental or hearing aids. And who needs these the most? Seniors!! It’s like handing a starving person a box of candy & telling them they can only look but not touch.

    Actually I came in here to tell you my thoughts on the COLA percentage increases. By using a percent formula, the poorest & the neediest lose out. Increasing a recipient’s $1000 monthly benefit by 1% amounts to an $10/mo increase. But increase a recipient of $2000/mo by 1% & that person will get a $20/mo increase. $20 doesn’t sound like a big increase but that extra $10/mo can help pay the sky rocketing cost of groc or gas. Ahhhh yes….the rich get richer. The poor who get the $10/mo increase are losing out. Soon they won’t have enough to survive on. And all this from the richest country in the world?!! You are stealing money from we who have paid into it all of our lives. It is OUR money, NOT YOURS!!

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