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(Image from article: "No Social Security Increase Next Year")

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No Social Security Increase Next Year

More than 58 million retirees and disabled Americans will get no increase in Social Security benefits next year, the second year in a row without a raise.

No cost-of-living increases, Social Security says

By law, Social Security benefits can't decline. But because premiums for the Medicare drug program are expected to increase 11% next year, seniors who have those premiums deducted from their benefits will see a drop in payments, says Barbara Kennelly, president of the National Committee to Preserve Social Security and Medicare.

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