Smallest Hike Ever for Social Security - Hometownstations.com-WLIO- Lima, OH News Weather Sports

Smallest Hike Ever for Social Security

The government announced today that Social Security recipients will see their monthly payments go up by 1.7 %, one of the smallest hikes since automatic adjustments were adopted in 1975. The increase, which will start in January, is meant to tie into the measurements of inflation. Social Security payments for retired workers average $1,237 dollars. A 1.7 increase will amount in $21 dollars a month, or $252 dollars a year. Most seniors at the Senior Citizens Services in Lima said the increase will not be enough. There are currently 56 million social security recipients receiving benefits for disabilities, widowers, children, and retires.