WASHINGTON, DC —ARP released the following statement from AARP CEO Jo Ann Jenkins in response to the announced cost of living adjustment (COLA) for Social Security beneficiaries in 2018:
“Today’s 2 percent COLA announcement gives some relief to Social Security beneficiaries and their families who depend on their earned, modest benefits. Since 2011, beneficiaries have received little to no increase – never more than 1.7 percent. For the tens of millions of families who depend on Social Security for all or most of their retirement income, this cost of living increase may not adequately cover expenses that rise faster than inflation including prescription drug , utility and housing costs.
“AARP continues our advocacy for bipartisan solutions to help ensure the long-term solvency of the program, as well as adequate benefits for recipients.”