Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million Americans will increase 1.6% in 2020. This is the annual cost-of-living adjustment (COLA). By law, federal benefits increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
The increase will begin with benefits that Social Security beneficiaries receive in January 2020. Increased SSI payments will begin on December 31, 2019.
In December 2019, Social Security COLA notices will be available online to most beneficiaries through the Message Center of their my Social Security account. This is a secure, convenient way to receive COLA notices online and save the message for later. You can also opt out of receiving notices by mail that are available online. Be sure to choose your preferred way to receive courtesy notifications so you won’t miss your secure, convenient online COLA notice.
For more information see:
- COLA Fact Sheet
- COLA Publication