Cost Of Living Adjustments

Discussion in 'Money & Finances' started by Sheldon Scott, Oct 18, 2016.

  1. Lon Tanner

    Lon Tanner Veteran Member
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    In addition to the 2.8% Increase in Social Security that I and all other SS recipients will receive I got notification today that my company pension benefit will increase by 1.82%.
     
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  2. Cody Fousnaugh

    Cody Fousnaugh Veteran Member
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    Your lucky you have a "company pension" and stayed on a job that long.
     
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  3. Peter Renfro

    Peter Renfro Very Well-Known Member
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    Yup, I am also getting a 2.8 in my pension.
    Having a company pension as a member of "our" generation is not lucky, but a sign of good planning. I decided early on that I needed to make a living instead of "following a dream" I went to work and kept at it.
    I am just old enough to remember the county poor farm, my great grandparents totally dependant on my grandparents,because of no social safety net. My GGranfather lost an eye and an arm in a rail yard accident and the NY Central just put him out the door, no retirement disability or compensation.
    My grand parents were able to break the cycle and had some pension. My fathers generation was the first with SS and a pension.
    More than just luck, it is the choices one makes,to choose a job with a stable company, to choose a company with a history of caring for its employees and to choose a company that has a pension system. To weather what ever storm and bullshit comes down from corporate,to bite your tongue, and to swallow your prideand subvert yourself to the company culture.
    Many of my contemporaries are suffering today because thy were always chasing the golden ring,quitting a job for a couple of bucks an hour, letting their pride and perceived insults to their manhood and sense of independence control their lives.
    My wife and I worked blue collar jobs and yet were able to retire early. Don't let pride get tin the way of a good thing!
     
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  4. Lon Tanner

    Lon Tanner Veteran Member
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    I just received a letter informing me that I will receive a COLA to one of my pensions in 2020. It amounts to $25 a month which is fine with me.
     
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  5. Bess Barber

    Bess Barber Very Well-Known Member
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    I sure hope so!! Last year was better than it's been for years.
    I'm not sure if Trump is the reason, but I give him the credit anyway. :)
     
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  6. Sheldon Scott

    Sheldon Scott Veteran Member
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    My pension doesn't increase, but we will get a small bit from social security.
     
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  7. Lois Winters

    Lois Winters Very Well-Known Member
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    Haven't a clue.
     
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  8. Bess Barber

    Bess Barber Very Well-Known Member
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    Me either. I will wait to look at my social security deposit in January to see. :D
     
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  9. Al Amoling

    Al Amoling Veteran Member
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    You should get a notice in December.
     
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  10. Nancy Hart

    Nancy Hart Veteran Member
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    We had been getting a COLA until 2019. This year the powers that be voted instead on what they call a "bonus check," subject to a cap. By changing from a percentage to a lump sum check, the increases are not compounded, so to speak. The cap prevents those with lower pensions from getting penalized as much. All in all, I really can't complain. The State taxes for retired people over 65 here are ridiculously low, imo.

    Edited to add: . This was in response to @Lon Tanner's thread on pensions. It appears to have been merged with a thread on Social Security COLAs.
     
    #85
    Last edited: Nov 16, 2019
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  11. Al Amoling

    Al Amoling Veteran Member
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    Got my email from SS yesterday. They tell me I'm going to get 1.8% but something its wrong because the new figure only shows .8%. The notice had a link to a site if you want to dispute but the link doesn't work.
     
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  12. Gloria Mitchell

    Gloria Mitchell Veteran Member
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    I question that being from SS... I got notice to check message center at my SS account . This is where my stuff comes to not an email. Just be careful.
     
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  13. Al Amoling

    Al Amoling Veteran Member
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    the email sent me to the message center at SS.
     
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  14. Gloria Mitchell

    Gloria Mitchell Veteran Member
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    Oooh ok
     
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  15. Bess Barber

    Bess Barber Very Well-Known Member
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    If they keep up the higher adjustment, I would have just about the same when I reach 67 as I would've had if I had waited that long before I retired. :D
     
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