WASHINGTON (WJW) – Social Security and Supplemental Security Income (SSI) benefits will increase 1.3 percent in 2021, the Social Security Administration announced Tuesday.
The average retiree will get a $20 increase per month.
The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021.
Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2020.
