Social Security recipients will see modest rise for 2021: 'Something's got to give'
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October 14, 2020
Bradley C. Bower – AP file
Social Security checks at the U.S. Treasury's Financial Management services facility in Philadelphia in 2005.
WASHINGTON - Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people.
The increase amounts to $20 a month for the average retired worker, according to estimates released Tuesday by the Social Security Administration. That's a little less than this year's 1.6% cost-of-living adjustment, or COLA.
The COLA affects the personal finances of about 1 in 5 Americans, including Social Security recipients, disabled veterans and federal retirees, some 70 million people in all.
https://www.startribune.com/uptick-for-retiree-checks-in-2021-amid-coronavirus-worries/572724151/
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