A jump in Social Security benefits

A jump in Social Security benefits
Next year’s Social Security benefits are expected to jump by the largest amount since 2012, said David Payne at Kiplinger. According to our calculation, the cost-of-living adjustment (COLA) should be 3 percent in January 2022, “up from the increase of 1.3 percent seen this year.” COLAs are calculated using an index that’s similar to the one used to calculate inflation. Last year’s COLA increase was the smallest since 2017. But the inflation outlook for 2021 is much different.


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