Social Security recipients will see modest rise for 2021: 'Something's got to give'

Oct 14, 20200

Bradley C. Bower – AP file count

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/