What Changes can Seniors Expect in 2021?

Like most things in life, your Social Security benefits are always changing. Some changes may seem complicated – and often unwelcome! Yet it is best to understand the changes to your benefits and plan ahead. So what are the biggest changes to Social Security in 2021?

For one thing, the Full Retirement Age – or FRA – is rising again. FRA will soon be set to 66 years and 10 months. If you plan to retire before reaching FRA, you still can. But you will receive reduced payments.

Another change is that the top benefit amount is rising. What that means is that the former benefit cap of $3,011 at full retirement age has been raised to $3,148 in 2021.

You can find the full list of “The 7 biggest Social Security changes of 2021” at Yahoo Business.

But What about the Social Security COLA?

Of special interest to us at the National Organization of Retired Americans is the 1.3% cost-of-living-adjustment for 2021. At NORA, we find this increase too low in the face of growing expenses for America’s senior citizens.

At NORA, we support legislation which provides a consistent, 3% COLA each year for America’s retirees. A consistent increase allows seniors to plan ahead.

Furthermore, we believe such legislation should be retroactive to 2010. This additional is not a handout. It helps compensate for the low increases seniors have received for the past decade. It is a benefit you worked for…one that you earned your entire life.

In support of the The Guaranteed 3% COLA for Seniors Act, we ask that you please consider sighing our Petition to Congress.

With low or no COLAs in recent years, Congress needs to know that you care about receiving the benefits you deserve.

After signing, we invite you to follow us on Twitter and Facebook to follow this legislation and other news for America’s senior citizens.