The Social Security Administration has announced benefits increases for Social Security and Supplemental Security Income (SSI) recipients for 2021. The 1.3% increase will impact about 70 million Americans. We review the timing of the change and other details.
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0:00 SSA Announces Increase for 2021
0:17 Timing of increase
0:38 How the COLA is calculated
0:49 What to Expect
1:05 More Information
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Read the Press Release: www.ssa.gov/news/press/releas...
People may create or access their my Social Security account online at www.socialsecurity.gov/myaccount
The Social Security Act provides for how the COLA is calculated. To read more, please visit www.socialsecurity.gov/cola
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