October 22, 2014
Mariah Timms
News Writer
National
Social Security wages will increase by 1.7% in 2015, the Social Security Administration has announced. This will average out to $22 more per month for the more than 58 million retired workers who receive the benefits. This increase is closely in line with the projected 1.5% increase in the annual living wage. Seniors face sharp increases for utility and grocery bills, reports CNN, as well as a housing market where costs are rising faster than inflation. The U.S. Census Bureau reports that nearly 10 percent of people aged 65 and older live in poverty, with higher proportions for women and minorities.
