AARP Response to Social Security COLA Announcement

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Oct 13, 2017, 10:05 ET

WASHINGTON, Oct. 13, 2017 /PRNewswire-USNewswire/ -- Today AARP 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."

This month the AARP-authored Social Security for Dummies will be released in its third edition. Additionally, next week, AARP's Public Policy Institute hosts a public policy forum with the National Academy of Social Insurance called New Approaches to Social Security Adequacy & Solvency in the 21st Century. For additional reports on Social Security please visit AARP's Public Policy Institute.

About AARP
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With nearly 38 million members and offices in every state, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, AARP works to strengthen communities and advocate for what matters most to families with a focus on health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPadvocates on social media.

SOURCE AARP