Social Security cost-of-living adjustments, or COLAs, are based on the rate of inflation in the previous year. For example, the COLA for 2021 is based on how the cost of goods and services changed in 2020. However, due to the COVID-19 pandemic, economic growth was slow in 2020. As a result, the COLA is just 1.3%, which could be an increase of just a few dollars a month for our nation’s seniors.

This year, prices are up. Seniors are having to pay more for everything from gas and groceries to prescription medications and health insurance premiums. Social Security COLAs that don’t keep up aren’t fair for the retirees who have worked hard their whole lives.

Learn more from ThinkAdvisor’s recent article “Do Social Security COLAs Really Keep Up With Inflation?“

America’s retirees should receive all of the Social Security benefits they’ve earned, and one way we’re fighting to make that happen is by asking Congress to make COLAs of 3% or more a guarantee. NORA’s collecting signatures to show our nation’s lawmakers that passing The Guaranteed 3% COLA for Seniors Act needs to be a priority. We’re also calling for this act to be made retroactive to 2010. Why? Because Social Security beneficiaries could receive thousands in unpaid benefits that they deserve.

Join us today by signing our online petition! Then, connect with NORA on Twitter and Facebook for more updates.