A Small Increase in Social Security Checks

Increase Small than Recent Years

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If you receive Social Security each month, you will see a modest cost of living increase next year.

The Social Security Administration announced seniors will see 1-point-3 percent more in their monthly checks in 2021.

The raise is smaller than the 1.6-percent bump that retirees received in 2020.

In 2019, they received a 2-point-8 percent boost to their monthly checks.

Next year’s increase is not necessarily good news for retirees and other beneficiaries.

Many have had a tougher time stretching their benefit checks in 2020, thanks to covid-19.

 

 

 

Categories: Dee Armstrong, US News