Your Financial Future:
Social Security is an important benefit, especially for women. It is never too early to start understanding Social Security benefits for both you and your loved ones. The more you learn now, the better prepared you will be in the future. Use these helpful resources to find out more about how Social Security benefits work and what you need to know to best utilize them.
News in Social Security:
Each year, the Social Security benefits are adjusted to fit the cost of living increase measured by the Consumer Price Index. Because there has been inflation every year since 1975, there has also been an increase in Social Security benefits to help elders with the increased costs of living. Starting in January 2013, Social Security checks will include a 1.7% cost of living adjustment (COLA). In 2012, monthly Social Security payments averaged about $1,130, or about $13,560 a year. A 1.7% increase will amount to about $19 a month, or just over $230 a year, on average.
The Social Security Administration announced 52 additional Compassionate Allowances in April 2012, which help provide benefits quickly to applicants with serious medical conditions that obviously meet disability standards. For more information, please click here.
WISER, in conjunction with the Heinz Family Philanthropies, released What Women Need to Know About Retirement, a free e-book available for PDF download. Download Chapter 4: Six Things You Need to Know About Social Security
Resources on Social Security and Social Security Reform:
Social Security Administration - The SSA has a wealth of information about your benefits and how to apply, and you can also find information about the program itself, including history, data, and policy analysis. Call: 1-800-772-1213 or visit the Social Security Administration web site, http://www.ssa.gov/
Social Security Administration electronic booklet: What Every Woman Should Know:
Institute for Women's Policy Research conducts rigorous research and disseminates its findings to address the needs of women, promote public dialog, and strengthen families, communities, and societies. Included in this research is Social Security and the impact of reform on women. Visit http://www.iwpr.org/.
For the Retirement and Social Security Initiative:
IWPR has also launched the Social Security Media Watch, which analyzes reporting on Social Security in the media and aims to monitor, analyze, and respond to inaccurate media reports on Social Security. Check it out at http://www.ssmediawatchproject-iwpr.org/.
National Academy of Social Insurance has a comprehensive list of policy and academic publications on Social Security financing, reforms and administration. Visit http://www.nasi.org/
National Committee to Preserve Social Security and Medicare has a useful questions and answers feature on their website, as well as policy analysis and other information about proposals to change Social Security and Medicare. Visit http://www.ncpssm.org/.
The Century Foundation provides a comprehensive listing of information, facts, publications, articles and testimony from a variety of sources on retirement security issues. See www.tcf.org/retirement
AARP has a variety of publications for women on Social Security, reform proposals, privatization and impact on women. See http://www.aarp.org/money/social_security/
For more helpful resources on Social Security, click here.
- What Women Get from Social Security and Pensions
- Improving Social Security Benefits for Women
- Social Security: Two Approaches to Long-term Solvency
- Social Security: What Every Woman Needs to Know
- Social Security Checklist
- Social Security and Divorce: What You Need to Know
- Who Receives Retirement Income?
- Government Pension Offset & Windfall Elimination Provision
- Hispanics and Social Security
- Your Social Security Statement: What It Means and Why It's Important
- Your Guide to Understanding Social Security Spousal Benefits