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RetireSafe Survey Says Seniors Are Struggling With Increased Costs Without an Increased Social Security Cost of Living Adjustment
Date:2/19/2010

Seniors' group urges older Americans to petition for an accurate CPI for Seniors

WASHINGTON, Feb. 19 /PRNewswire/ -- Over 95 percent of the 800 seniors who were surveyed by RetireSafe recently said Social Security benefits have not kept up with the actual cost-of-living over the last five years.

In the survey, seniors said that they are struggling to make ends meet because the lack of a cost of living increase is hitting them hard.  While their living expenses are increasing more rapidly than they can keep track of, their Social Security benefits aren't keeping up.

RetireSafe, a seniors' grassroots advocacy organization with over 400,000 supporters, is calling on seniors to support legislation to fix the problem.  RetireSafe president Thair Phillips said, "The first step is to get an accurate Consumer Price Index for Seniors, a CPI-S."

According to Phillips, the present COLA is based on a CPI for younger urban wage earners rather than older Americans. RetireSafe is working with U.S. Rep. John (Jimmy) Duncan Jr. (R-TN) to present legislation that will direct the government to calculate a CPI specifically for seniors.

Phillips says seniors have had a lot to say about how they are coping with their shrinking Social Security payments each month.  Here's what one senior said:  "Medicines have increased along with increases in health insurance, gas, groceries have gone up, and utilities have gone up. I know my temper has sure gone up! I just hope people go to the polls en masse this next election."

One supporter made a humorous statement about a not so humorous situation when he said: "I make up for it the old fashioned way --- 'We don't eat'."

Another said: "I will have to do without something. I haven't yet figured out what. The cost of groceries makes it impossible for me to eat anything healthy. No wonder older people get ill; we can't afford what we truly need."

Phillips noted, "Here's a chance for seniors to fight for an accurate CPI for Seniors.  It's time to correct this inaccurate calculation that has gone on for years and, as seen by the hundreds of comments from our survey, continues to hurt seniors at a time when they can least afford it." Phillips concluded, "Seniors should sign the petition at www.retiresafe.org and stand up for an accurate CPI for seniors."

SOURCE RetireSafe

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