SSI Benefits Set for Upcoming Increase
The Social Security Administration (SSA) has announced an increase in benefits for Supplemental Security Income (SSI) and other Social Security programs. This change, driven by an annual cost-of-living adjustment (COLA), comes as inflation affects the purchasing power of many beneficiaries.
Details of the Upcoming SSI Benefit Increase
Starting on December 31, beneficiaries of SSI will notice an increase in their payments. Meanwhile, Social Security beneficiaries will see this adjustment begin in January.
New Benefit Amounts
- The maximum federal SSI benefit for individuals will rise to $994 monthly, up from $967.
- For couples, the new benefit will be $1,491 per month, an increase from $1,450.
- Additional contributions from certain states may lead to higher actual payments for some recipients.
The SSA will notify beneficiaries of their new benefit amounts and any deductions via mail. They can also view their updated details through the SSA website.
Concerns Raised About the Increase
While this increase is a positive step, advocacy groups such as the Senior Citizens League express concern. They argue that the adjustment does not fully address the rising cost of living faced by many seniors and disabled individuals.
Advocacy for a Higher COLA
The Senior Citizens League is calling for Congress to establish a minimum COLA of 3%. They also want reforms in how the COLA is calculated to better reflect beneficiaries’ actual spending patterns.
The upcoming changes to benefits are significant for many, yet the debate on adequacy continues. As inflation persists, the conversation surrounding Social Security benefits remains vital.
