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SSI, Social Security Benefits Will Increase In 2021

10/19/2020

2 Comments

 
​by Shaun Heasley | October 14, 2020  from Disability scoop
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​People with disabilities receiving Supplemental Security Income and other Social Security benefits will soon see their payments rise.

The Social Security Administration said this week that benefits will increase 1.3 percent in 2021.

The change comes as a result of an annual automatic cost-of-living adjustment, known as COLA, that’s tied to inflation. By law, Social Security benefits go up when there is an increase in the Consumer Price Index from the U.S. Department of Labor’s Bureau of Labor Statistics.

The higher payments will begin Dec. 31, 2020 for more than 8 million SSI beneficiaries and in January 2021 for over 64 million people across the nation receiving Social Security.
​
For individuals receiving SSI, the maximum federal payment will grow from $783 per month this year to $794 per month in 2021 with the automatic adjustment. Couples will see $1,191 per month next year, up from $1,175.

Some states kick in additional money for SSI beneficiaries, so actual payments may be higher.

Social Security officials said that beneficiaries are typically notified about their new benefit amount by mail beginning in early December, but most people can view the information in their online Social Security account.
The COLA increase for 2021 is slightly less than last year’s adjustment. Benefits rose 1.6 percent in 2020 compared to the previous year.
2 Comments
Adam Golightly link
5/30/2021 04:52:27 pm

My brother has been thinking about getting some better social security because his health has really been impacted in the last week. He would really like to get some help from a professional in order to be more effective because they will understand all of the laws. I liked what you said about how the increase of the Customer Price Index can improve the social security benefits.

Reply
Anthony link
8/2/2021 05:06:16 am

Very nice posst

Reply



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