MOUNTAIN TOP, Pa. — Starting in January, people on Social Security will see the largest cost of living increase since 1980, a boost of more than eight percent.
The increase in benefits will impact 70 million people across the country, but seniors here at home say the extra money in their checks won't get them much as inflation continues to climb.
The news of a Social Security increase was the talk of the day for seniors at the Mountain Top Senior Center.
"They're going to give them with one hand and take with the other, and it's not fair. Nobody here is excited about the increase because they are going to give it and take it," Bonnie Tomcho said.
The Social Security Administration announced the highest increase in decades. Checks will go up 8.7 percent starting in January, coming out to an average increase of more than $140 per month.
But some seniors fear they won't be able to stretch those extra dollars.
"No, it's not a help," Charlene Drusick said. "You pay more in rent, and now you pay more in groceries. It's really not a help."
"Taxes are going up, so what they give you in Social Security will go to taxes, so you aren't going to be ahead on anything," Joan Hoover said.
The increased benefits are expected to reach 70 million Americans. People who spend time at the senior center know just how hard living on a fixed income is.
"I'm fortunate that I have a family, and if I need something, they are able to help me," Hoover said.
"I feel bad for the people here because they're all on a fixed income, the majority of them, and they didn't give them anything to look forward to," Tomcho added.
The Social Security Administration says letters will make their way out in early December, notifying each person of how much more money they will receive.
Newswatch 16's Jon Meyer breaks down the Social Security increase on YouTube: