If you are a Social Security Disability or Supplemental Security Income recipient, you can expect a 1.7 percent increase in 2013. According to Social Security, the 1.7 percent cost-of-living adjustment (COLA) will begin in January 2013, benefitting more than 56 million Social Security beneficiaries. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2012.
So what’s the average monthly Social Security Benefits payable in January 2013? A disabled worker receiving $1,113 before the COLA will receive $1,132 dollars after the increase. Check out the Fact Sheetfor more information about 2013 Social Security changes.
Want to know more? Visit www.socialsecurity.gov, and receive answers to hundreds of frequently asked questions.