SSI Recipients To Get Raise
Americans with disabilities who receive Social Security benefits — including Supplemental Security Income — will see their monthly payments rise in 2013.
The Social Security Administration said Tuesday that all beneficiaries will get a 1.7 percent increase to account for higher cost-of-living. The automatic payment adjustment known as COLA occurs whenever inflation rises.
The pay raise will take effect starting Dec. 31 for more than 8 million SSI recipients, officials said.
At that time, the maximum federal benefit for an individual receiving SSI will increase from $698 per month to $710. Similarly, payments to couples on SSI will rise from $1,048 to $1,066 monthly.
This year Social Security recipients saw their monthly benefits grow 3.6 percent over last year’s payments thanks to COLA. However, there was no increase in either 2010 or 2011.