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For the 2nd year in a row people who rely on Social Security wont receive a cost of living increase. This is only the second time since the cost of living adjustment (COLA) was adopted that receivers haven't received an increase.

The reason Social Security benefits wont be revised in 2011 is that inflation has been very low. The whole premise behind the cost of living adjustment is that benefits are adjusted for inflation so receivers could sustain increasing prices. If there's no inflation, there is no need for cost of living increase. The latest inflation numbers published by the Labor Department shows that prices are lower than they were in 2009, the last time Social Security benefits were increased.

The cost of living adjustment in 2009 was the biggest seen in 27 years at 5.8%. The raise in 2009 was so large due to gas prices that sky-rocketed in summer of 2008. When gas prices fell, so did the overall inflation rate. While the government can't reduce Social Security benefits if there's deflation (when prices are decreasing), they can decide to not provide a COLA increase, which was the situation for 2010 and looks to be for 2011.

Possible Incentive Payment to Help Seniors Who Depend on Social Security Benefits

To aid Seniors who rely on their Social Security benefits to help with living expenses, Congress will be voting on a $250 bonus payment for Social Security receivers to aid make up for the fact that Social Security benefits will remain the same for second year in a row. An update will be provided when the bill has been voted on.

No Social Security COLA Means No Raise in Medicare B Premiums

One silver lining to no cost of living increase is that Medicare Part B premiums will not go up for current enrollees. A little percent of Medicare Part B participants will pay increased premiums, including people who've Medicare Part B but who're not yet collecting Social Security benefits, people who are considered "high income" and people who are just now enrolling in Part B. However, a "hold-harmless" facility protects existing participants from rate increases if their Social Security benefits do not raise, therefore no cost of living raise for Social Security recipients also means no Medicare Part B premium raise either.

3 Reasons To Use A Fee-Only Financial Specialists
There are three different types of financial advisors: the commission broker who sells a product for a commission, the fee-based advisor who provides investment management for a percentage of the assets invested, and the fee only financial planner who provides a comprehensive financial plan for an hourly fee.

The Tips On How To Submit An Application For Social Security Benefits
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Submitting Your Social Security Application: When And How
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Social Security Income: Tips To Help You Get The Most Out Of Your Social Security Retirement Income
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Spousal Benefits: Applying For Social Security Benefits
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Using Government Grants To Make Improvements To Your Own Property.
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Completely New Guidelines Mean Much More Men And Women Doing Roth IRA Conversions In 2010
As we near the end of 2010, countless people have already done Roth IRA conversions, and many others are questioning if a Roth IRA conversion in 2010 is the right move for them.

Gold Coins: Putting Profit In Your Profile
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Gold Coin Prices Guide May Give Valuable Information To Invest At Right Time
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What Must You Know About Gold Bullion And The Current Prices
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