BUFFALO, N.Y. — The Social Security Administration has announced its annual cost-of-living adjustment. But some stakeholders aren’t happy with the result.
Even though the adjustment is matched to the consumer price index that measures inflation, some are concerned that this increase in Social Security payments isn’t enough to cover rising costs.
“It’s a start, considering it’s been lower in the past, but it’s not enough. Elders are always on a fixed income,” said Luz Velez, a volunteer at Richmond-Summer Senior Center. “Some of us own our homes, so we have a lot of expenses. It just feels like whenever they give you money, they take it away.”…