Your social security payment is set to go up thanks to Biden. Here's why

Politics and Government Politics and Government

Mon, January 6, 2025

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Your social security payment is set to go up thanks to Biden. Here's why

^{Published on 2025-01-06 07:01:01 - MSN}

Your social security payment is set to go up thanks to Biden. Here's why - Advocates say the Social Security Fairness Act rights a decades-old disparity

The article from MSN discusses an upcoming increase in Social Security payments, effective from January 2024, due to a 3.2% cost-of-living adjustment (COLA) announced by the Biden administration. This adjustment aims to help beneficiaries keep up with inflation. The increase is part of the annual COLA, which is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The article explains that this raise will provide an average of $50 more per month for recipients, although the exact amount varies depending on individual benefits. It also highlights the political context, noting that President Biden has made it a priority to protect and enhance Social Security benefits, amidst discussions on the program's future sustainability.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/politics/government/your-social-security-payment-is-set-to-go-up-thanks-to-biden-here-s-why/ar-AA1x0ylV ]

N@N

Your social security payment is set to go up thanks to Biden. Here's why