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Social Security Announces 1.3 Percent Benefit Increase for 2021
Social Security and Supplemental Security Income (SSI) benefits for Americans will increase 1.3 percent in 2021, the Social Security Administration announced on Tuesday, October 13.
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. (Some people receive both Social Security and SSI benefits).
