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Social Security, SSI Payments To Increase

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For the first time in two years, Supplemental Security Income, or SSI, recipients will see a 3.6 percent boost in monthly benefits in 2012.

The higher payments come courtesy of the automatic cost-of-living adjustment, or COLA, that’s triggered by law for all Social Security benefits anytime inflation rises.

More than 8 million SSI recipients will begin receiving the higher payments starting Dec. 30, the Social Security Administration said Wednesday.

For an individual receiving SSI, the maximum federal benefit will increase from $674 per month to $698. Similarly, payments to couples on SSI will rise from $1,011 to $1,048 monthly.

This is the first time since 2009 that Social Security recipients will see an automatic increase in payments. That’s because for the past two years, inflation dropped or remained stagnant and there was no COLA.

Since COLA took effect in 1975, 2010 and 2011 were the only years that an automatic increase in Social Security benefits did not occur.

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Comments (3 Responses)

  1. seeandbesafe.com says:

    I’m very doubtful of the claims of a zero inflation increase over the past two years. The food prices at local grocery stores alone speaks to a far different reality. This is however a breath of fresh air and a much needed financial relief for many SSI recipients. It seems very strange to me that there has never been a hold on the automatic increase since 1975 until 2010. If I were to take my best guess I would say that it has more to do with political jousting rather than a a legitimate decrease or stagnant inflation rate.

  2. mjm6783 says:

    I agree with seeandbeesafe. The cost of health care alone has inflated over 10% in the last two years. The government will skew the statistics any way they can to limit on dent cost of living increases. It’s not a popular position to advocate for increased revenue during a recession.

  3. AKAspie says:

    Wonderful. Now how about they change state laws that only extend SSI/Disability eligibility to children with autism under the age of 22? Or in marginally better situations, where autistic individuals must apply before turning 22?

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