Bigger Social Security COLA Causes Surge in Scams
The Social Security Administration (SSA) is warning recipients to beware of scams related to this year’s big benefits boost. NBC15 in Madison, Wisconsin, reports that the SSA has been seeing a surge in Social Security scams related to the 8.7 percent cost-of-living adjustment (COLA) implemented in 2023.
Apparently, fraudsters are sending letters telling people they need to call a number to activate the COLA allowance. That’s completely false. The COLA increase was automatically added to your Social Security benefits beginning in January.
The SSA reminds people to be wary of unexpected calls or messages. Typically, recipients contact the SSA first if there is an issue with their account, not the other way around. You should file a report if you think you have been targeted for a Social Security scam.
The Seniors Trust is committed to providing seniors with important information on preventing Social Security scams. We also want Congress to enact The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, provide a fair annual COLA, increase minimum benefits, and ensure the long-term solvency of the Social Security program.
