I’m already getting questions on what the anticipated 2016 Cost of Living Adjustment (also known as COLA Increase) will be for social security recipients. So far there is not good news. Most experts are predicting there will likely be No Social Security Cost of Living Adjustment for 2016.
The COLA Increase for Social Security is based of the CPI-W… and for so far this year it has been lower than what the CPI-W has been last year, however the numbers for July, August and September are the numbers that matter.
The average CPI-W for that period in 2014 was 234.241, and so far this year the CPI-W has not exceeded that number, and many experts predict it won’t.
So people on Social Security, SSI and Disability should prepare themselves to not get the COLA Increase they may be expecting, however it is still very early and this may change.