• Living in Retirement
  • Social Security
  • Living in Retirement
  • Social Security
  • Living in Retirement
  • Social Security
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ANSWER: False.

Social Security payments have cost of living adjustments based on changes to the CPI-W (Consumer Price Index for Urban Wage Earners and Clerical Workers).

The COLA is determined by comparing the average CPI-W for the third calendar quarter of the previous year to the average CPI-W for the third calendar quarter of the current year.

Because inflation has been so low the past few years, COLAs have also been low: For 2017 it was 0.3%, and in 2016 there was no COLA.

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