Tuesday, October 16, 2012

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.
Read more of Michelle Diament's Disability Scoop article HERE.
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