Increases Archives - DR News - News, Retirement, Finance

Seniors Warned of Lowest Social Security Benefit Increases in Four Years for 2025

ORLANDO, FL – Social Security beneficiaries may face disappointment next year as the increase in benefits is forecasted to be the lowest in the last four years, according to a recent warning from The Senior Citizens League (TSCL). Each year, Social Security payment amounts change based on the cost of living adjustment (COLA), which takes into account inflation and provides seniors with a new monthly check. The past few years have seen significant increases in …

Pensioners’ Plea for Equal Increases Goes Unanswered by Government

Georgetown, Guyana – Thousands of NIS pensioners in Guyana are facing disappointment this year as they have not seen an increase in their pensions. This lack of increase is due to a new minimum pension threshold of $43,000 per month set by the government. Many pensioners who are receiving slightly above this amount are feeling neglected and overlooked in the latest budget announcement. Critics are pointing fingers at the government for what they consider poor …

Retirees’ Monthly Payment Schedule for 2024 Unveiled with Increases in Social Security Checks

Many retired workers eagerly anticipate their monthly benefits, and for those residing in the United States, the date they receive their payments is dependent on their day of birth. The Social Security Administration has specific distribution dates for retirees based on when they were born, ensuring that everyone receives their checks in a timely manner. For retirees with birth dates falling between the 21st and 31st of the month, their benefits are expected to arrive …

Insurance Stocks Take a Hit as Medicare Increases Rates by 3.7%

Orlando, FL – The Centers for Medicare and Medicaid Services (CMS) recently approved a 3.7% payment rate increase for Medicare Advantage plans for the 2025 calendar year. This decision had a significant impact on leading health insurance managed care stocks, causing a sharp decline in stock prices for companies like Humana, CVS Health, and UnitedHealth Group. Investors were surprised by the modest 3.7% rate increase, as many had anticipated a larger hike to help offset …

Seniors May Experience Mixed Benefit Increases With New Social Security Bill, Advocates Weigh In

Harrisburg, Pennsylvania – Lawmakers have proposed new legislation aimed at adjusting Social Security benefits for Americans aged 62 and older. The Boosting Benefits and COLAs for Seniors Act, introduced by Sen. Bob Casey, D-Pa., seeks to base benefit adjustments on the Consumer Price Index for Elderly Americans (CPI-E) rather than the current Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). This change is intended to better reflect the financial challenges faced by …

Pension Crisis Looming: State Pension Age Set to Rise Sharply as Life Expectancy Increases

London, England – The increasing life expectancy and financial constraints call for a significant rise in the state pension age in Britain and beyond. With national debt soaring and pensions becoming the largest driver of government spending, tough decisions must be made regarding retirement eligibility. When the first state pension was introduced by Lloyd George, life expectancy was much lower at 51 years old, yet the retirement age was set at 70. Currently, with life …

Clawback Conundrum: Seniors Facing OAS Recovery Tax Increases as Cohort Grows

Toronto, Canada – The Old Age Security recovery tax, commonly known as the OAS clawback, has become an increasingly concerning issue for seniors as the number of those affected continues to rise. Surpassing $90,997 in income in 2024 triggers the clawback, affecting more than 500,000 seniors, which accounts for 8.3% of total OAS recipients, according to data from Statistics Canada. As Canada’s population ages, the financial burden on the federal government to sustain the OAS …

Snowfall Forecast: Confidence Increases for DC Area on Friday Night

WASHINGTON, D.C. – Forecasters are increasingly confident that the D.C. area will experience a light to moderate snowfall on Friday night. Initial estimates suggest a potential accumulation range of a coating to 3 or 4 inches, with certain parts of the region possibly seeing lower or higher amounts. However, the overall storm track may still shift, prompting a medium-level confidence in the exact amounts and location of the snowfall. The storm is expected to be …