Articles Posted in Cost of Living Adjustment

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Cost of LIving.JPGBeneficiaries of Social Security who are currently receiving payments are likely to see a small increase in monthly benefits. There was a cost of living adjustment beginning in in January 2013.

Social Security instituted a 1.7% increase in the annual cost-of-living adjustment, and this will result lead in a slight increase in monthly benefits for Social Security beneficiaries. The increase is modest, but as Social Security Disability lawyers see it, even a slight increase over time can add up.

Based on an average monthly Social Security Disability of $1111.68 in November 2012, the increase will probably add up to about $19 per month. That works out to around $220 starting in January 2030.