Social Security & the Cost-of-Living Adjustments

Most people are aware that there are annual increases in Social Security benefits to offset the effects of inflation on fixed incomes. These increases, now known as Cost-of-Living Allowances (COLAs), are such an accepted feature of the program that it is difficult to imagine a time when there were no COLAs.

In 1972 legislation the law was changed to provide, beginning in 1975, for automatic annual cost-of-living allowances (i.e., COLAs) based on the annual increase in consumer prices. No longer do beneficiaries have to await a special act of Congress to receive a benefit increase and no longer does inflation drain value from Social Security benefits.

• The 2008 COLA
• The 2007 COLA
• The 2006 COLA
• The 2005 COLA
• The 2004 COLA
• The 2003 COLA
• The 2002 COLA
• The History of COLA