Do Pensions Get a Cost of Living Increase? A Comprehensive Breakdown
According to the National Association of State Retirement Administrators, approximately three-fourths of public pension plans provide some form of a cost-of-living adjustment (COLA). However, this is not true for all pensions, as private sector and some public plans may not offer this crucial inflation protection. The question, "Do pensions get a cost of living increase?" has a nuanced answer that depends heavily on the specific plan and its terms.