2020 Social Security COLA expected to be 1.6%

Sep 12, 2019 @ 11:10 am

By Mary Beth Franklin

It looks like Social Security benefits will increase by about 1.6% in 2020, more than a full percentage point less than the 2.8% cost-of-living adjustment this year, according to preliminary estimates by The Senior Citizens League, a nonpartisan advocacy group representing more than 1 million retirees.

The Social Security Administration will issue its official COLA announcement for 2020 on Oct. 10 following the release of the Consumer Price Index data for September 2019. Social Security benefits increase automatically if the CPI-W, which measures price inflation for urban workers, increases in the third quarter (July, August and September) of the current year over the corresponding third quarter of the previous year.

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