cost of living adjustment

Disability Benefits to Increase Significantly With Next Year’s Projected COLA

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Social Security Disability beneficiaries will likely be seeing an increase in their payments next year which may be the largest in decades. This is due to growing inflation and the continuously climbing cost-of-living in the United States, which informs the automatic cost-of-living adjustment, or COLA. The COLA is based on how any increase in the…

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Cost-of-Living Adjustment Announced For 2022

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The Cost-of-Living Adjustment (COLA) was recently announced, and recipients for Social Security Benefits will expect to receive a 5.9% increase in 2022. This increase includes those who receive disability and retirement benefits from the SSA.  As the highest COLA increase since 1982, this is a historical increase. The average COLA increase percentage over the past…

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COLA Announced at 1.3% for 2021

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People with disabilities who receive SSDI or SSI will soon see their payments increase. 72 million Social Security and Supplemental Security Income recipients will see a 1.3% cost-of-living adjustment (COLA) to their monthly benefits beginning January 1st, 2021, an increase even smaller than last year’s. In 2021, the monthly federal SSI payment standard will be…

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What is the 2020 COLA?

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The Social Security Administration recently announced the cost-of-living adjustment (COLA) will be 1.6% in 2020.  This increase applies to those receiving disability, retirement and veterans’ benefits. What is a COLA and How is it Determined? The COLA was created in order to increase benefits to account for the rising cost of consumer goods and inflation….

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