Social Security and SSI Benefit Increase

social security

 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. 

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