It appears as though for only the third time in the last 40 years, social security recipients, disabled veterans and federal retirees will NOT be receiving an increase in benefits for the coming year.

Somewhat surprisingly, the reason they're probably not going to be receiving an increase is due to lower prices at the pump.

The annual cost of living adjustment is based on a government measure of inflation – which is being reduced by those lower gasoline prices.

The government is scheduled to announce that cost of living adjustment, or if there will be one, this Thursday (October 15th).

Economists are saying there's very little chance the numbers will produce benefit increases for 2016.  It was back in 1975 that Congress enacted automatic increases for Social Security recipients, and since that time increases have averaged about 4% per year.

There were no increases in 2010 or 2011.

About sixty million retirees, disabled workers, spouses and children receive Social Security benefits – with the average monthly payment being $1,224.

The cost of living adjustment also affects benefits for around four million disabled veteran's as well as two-and-a-half million federal retirees and their survivors and some eight million people who receive Supplemental Security Income.

(Associated Press)