COLA increasing by 3.6%

by Nick Delgado

Guam – The U.S. Social services administration will increase the Cost of Living Adjustments (COLA) for its beneficiaries. Starting in January 2012, social security recipients will get an increase in benefits of 3.6%. This is the first increase since 2009. Congresswoman Madeleine Bordallo has worked with her colleagues in Congress to support providing COLA or similar payment for social security retirees. She states, "I commend the Social Security Administration for this long awaited increase in our nation's cost of living. The lack of a COLA increase over the past two years, has made it difficult for Social Security beneficiaries on Guam to adjust to the rising costs of goods. This increase in COLA will provide much needed assistance to our manamko' currently receiving Social Security benefits. I look forward to the implementation of this increase in the upcoming months, and will continue to work with my colleagues to ensure our seniors' quality of life is maintained in light of increases in living costs."