# Pensions & Cost Of Living Adjustments COLA's



## Lon (Nov 15, 2015)

Those of us on SS already know that there will be no COLA for 2016, but what about Private Pensions. I received one from my Private Pension for 2015 & I'll bet they do it for 2016.


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## Ameriscot (Nov 15, 2015)

Lon said:


> Those of us on SS already know that there will be no COLA for 2016, but what about Private Pensions. I received one from my Private Pension for 2015 & I'll bet they do it for 2016.



We get 6 pensions and the only one which won't get a raise in 2016 is SS.


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## Manatee (May 1, 2016)

No COLAs here.


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## Lon (May 1, 2016)

I got COLA on SS and Private Pension for 2015 but nothing going for 2016, but not to worry, my investment portfolio is up 9.8% YTD.


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## Ken N Tx (May 2, 2016)

Lon said:


> I got COLA on SS and Private Pension for 2015 but nothing going for 2016, but not to worry, my investment portfolio is up 9.8% YTD.



Are you sure it is a COLA or is it the mandatory IRS Withdrawal ??


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## Lon (May 2, 2016)

Ken N Tx said:


> Are you sure it is a COLA or is it the mandatory IRS Withdrawal ??



My Private Pension is not a IRA or 401K.


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## bodumene (Jun 22, 2016)

My pension is adjusted each year depending on how the investments are doing.  This year it was pretty much a wash.


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## jujube (Jun 22, 2016)

I've received a 3% COLA for my pension for the last few years.  It's not much but it's better than what the Spousal Equivalent gets.....he has a federal pension and hasn't received a COLA for years.


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## OneEyedDiva (Aug 5, 2016)

I receive a government pension. Our "illustrious" (I'm being faceteous) governor Christie seems to have had it out for retirees and teachers from day one. He discontinued our nice annual COLAs and I doubt they will be restored due to the mess our pension plan is in. We are several billion dollars underfunded due to our governors, both Dems & Reps, who didn't keep their funding promises and probably dipped into the fund for other things. From what I've read, many pensions are in trouble and private sectors are trying to phase them out entirely. Wonder where that leaves room for COLAs.


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## Brookswood (Aug 5, 2016)

If I want a COLA I go to the store and buy a can of the stuff.


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## Brookswood (Aug 12, 2016)

I got a 0.8 % COLA for 2016, but that is due to the way they calcluate the COLA. Basically, they are giving me back part of a COLA that I lost a few years ago for technical reasons. 

So, in reality, this COLA is for 2013 and my 2016 COLA is zero.


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## Brookswood (Aug 12, 2016)

COLA's seem to vary all over the map. One guy I know gets 2% a year. Period. No Change ever.  If the cost of living is zero he gets 2%. If the cost of living goes up 7% he still gets 2%.


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## NancyNGA (Aug 12, 2016)

Our pension plan provides a 1.5% increase every 6 months, supposed to be that way forever once you retire.  Not sure if that's better than 3% once a year or not.   Probably not, otherwise they wouldn't have done it such a odd way.


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## mathjak107 (Aug 12, 2016)

the country consists of 1500 different mini economy's . we all see different things when it comes to our personal cost of living .

in fact right here in nyc half of all the housing stock is rent stabilized . this is the 2nd year in a row millions have seen no rent increase .

the cpi's are not meant to mimic any ones actual cost of living . they are just price change index's .  

my sister refinanced and her total expenses are less than 5 years ago . on the other hand we rent and have a very different result .


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## Brookswood (Aug 12, 2016)

NancyNGA said:


> Our pension plan provides a 1.5% increase every 6 months, supposed to be that way forever once you retire.  Not sure if that's better than 3% once a year or not.   Probably not, otherwise they wouldn't have done it such a odd way.



Do the math.   It actually results in a slightly larger adjustment each year.  It won't make the pensioner rich, but over time it could buy wine and cheese for a party of four every year
.


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## mathjak107 (Aug 12, 2016)

that is some nice increase in today's environment


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## Carla (Aug 12, 2016)

OneEyedDiva said:


> I receive a government pension. Our "illustrious" (I'm being faceteous) governor Christie seems to have had it out for retirees and teachers from day one. He discontinued our nice annual COLAs and I doubt they will be restored due to the mess our pension plan is in. We are several billion dollars underfunded due to our governors, both Dems & Reps, who didn't keep their funding promises and probably dipped into the fund for other things. From what I've read, many pensions are in trouble and private sectors are trying to phase them out entirely. Wonder where that leaves room for COLAs.



None of them seem to be able to keep from dipping into these type of funds. The company I worked for has since broken promises to us also.(retirees) Nothing we can do about it either except to pray they don't take back more. This isn't a small unknown company--it is a world-wide company with mega profits. They can well afford to honor their promises but they chose not to. The future looks so bleak for the younger ones as they don't fully understand how important a pension is. If SS goes belly up too--can't even imagine!


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## NancyNGA (Aug 12, 2016)

Brookswood said:


> Do the math.   It actually results in a slightly larger adjustment each year. ...



Not _quite_ so simple, because as I recall, the COLA didn't start until the first 12 months had passed.  I've always wanted to test it out on a computer to see, just out of curiosity.  Never got around to it, because I consider myself lucky to even have a pension at all.   Not due to any planning on my part, either---again luck.


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## Dennis K (Sep 5, 2016)

For years some have predicted that social security as we know it will change drastically in the future. Many people who were lucky enough to work for a company with a defined pension receive a monthly pension check. This along with social security and some savings is the source of many retirees income. In the area I live some very large companies have filed for bankruptcy in the past 20 years and now no longer exist. Retirees of these companies now receive a fraction of their pensions from the PBGC. Are these two items a concern for many of the  current retirees who depend on a monthly social security and pension check??


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## mathjak107 (Sep 5, 2016)

i have been hearing about ss being cut or changed almost my entire working life . i don't expect to see any cuts . we always find the money when we have to .


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## Brookswood (Sep 5, 2016)

SS was cut years ago for some of us.

For example, my father's full retirement age was 65.  Mine is 66.  Others have to wait until 67.  That seems like a cut to me.

Also the amount of money one can earn before SS is taxed  has been fixed and not adjusted for inflation.  Another cut though not an obvious one for those who still work in the earlier years.

That said, I doubt if we will see big cuts in payments anytime soon.  More likely the Feds will decide to raise the amount on which SS taxes are paid, and also tax SS benefits more aggressively for those in the upper income brackets to start.  Eventually, that could work its way down to the middle class, of course.    

My 2¢.   You can agee or disagree as you wish.


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