Social Security Benefits Increase in 2020
Reading Time: 1 MinuteLast Updated: October 10, 2019
When we announce the annual cost-of-living adjustment (COLA), there’s usually an increase in the Social Security and Supplemental Security Income (SSI) benefit amount. Federal benefit rates increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W).
The CPI-W rises when inflation increases, it makes your cost of living go up. This change means prices for goods and services, on average, are a little more expensive, so the COLA helps to offset these costs.
As a result, nearly 69 million Americans will see a 1.6 percent increase in their Social Security and SSI benefits in 2020.
January 2020 marks other changes that will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax. The retirement earnings test exempt amount, will also change in 2020.
Want to know your new benefit amount as soon as possible? In December 2019, we will post Social Security COLA notices online for retirement, survivors, and disability beneficiaries who have a my Social Security account. You will be able to view and save these COLA notices securely via the Message Center inside my Social Security. You can also opt out of receiving notices by mail that are available online.
Be the first to know! Sign up for or log in to your personal my Social Security account today. Choose email or text under “Message Center Preferences” to receive courtesy notifications. This way you won’t miss your online COLA notice!
You can find more information about the 2020 COLA here.
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About the Author
Darlynda Bogle, Assistant Deputy Commissioner
Darlynda Bogle, Assistant Deputy Commissioner
Comments
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william K.
How much will my social security benefits increase in 2020 I am 67 years old
A.C.
Hi, William. There was a 1.6% cost-of-living adjustment (COLA) in 2020 for nearly 69 million beneficiaries. This new increase took effect for Supplemental Security Income (SSI) payments on December 31, 2019, and for Social Security payments paid out in January 2020. You can find out more information on the new COLA by visiting here. For specific information about your benefits, please call us at 1-800-772-1213, Monday through Friday, between 7:00 a.m. and 7:00 p.m., for assistance. Generally, you will have a shorter wait if you call later in the day. You can also contact your local Social Security office. We hope this helps.
Lenora T.
I filed married filing separate in 2017. I was then charged the Irmaa additional Medicare due to income., which was almost $300.00. In 2018 I filed married and joint with husband. When will the adjustment be made to get me back to regular Medicare costs ,and Soc security owed not related to a high income level? Will I also be notified of new amount of soc security? Is the adjustment automatic after your review of tax return?
A.C.
Hi, Lenora. For your security, we do not have access to private information in this venue. We ask that members in our Blog community work with our offices with specific questions. You can call us at 1-800-772-1213, Monday through Friday, between 7:00 a.m. and 7:00 p.m., for assistance. Generally, you will have a shorter wait if you call later in the day. You can also contact your local Social Security office. We hope this helps.
Gerald D.
When does 2020 Social Security amounts get mailed to
citizens?
Gerald D.
When does the 2020 Social Security amounts get mailed
out to people/
A.C.
Hi, Gerald. The cost-of-living adjustment (COLA) notices for 2020 were mailed throughout the month of December. For more information, visit our Frequently Asked Questions. We hope this helps.
Gordon E.
After the SS raise of 1.6%, my net payment goes down $26.70 each month! My benefit goes from $519.20 DOWN to $492.50. I was hurting before the COLA but now am bleeding out. Something MUST be done about this.
darrell s.
i never got a notice for how much of a increase iwill be getting for 2020 all my friends got there notice 4 days ago
A.C.
Hi, Darrell. The cost-of-living adjustment (COLA) notices for 2020 were mailed throughout the month of December. For more information, visit our Frequently Asked Questions. We hope this helps.
LindaL.O-.Atkinson
Believe, that the C.O.LA. increase for retired S.S. and S.S.Disable persons, could and should be different than (SSI) by now!
Do not know, those whom works and worked need to receive more!
JAMES M.
When will SSA issue 2020 SS benefit statements ?
A.C.
Hi, James. The cost-of-living adjustment (COLA) notices for 2020 were mailed throughout the month of December. For more information, visit our Frequently Asked Questions. We hope this helps.
MARK W.
Older people like my mother depends on a physical (USPS) letter from Social Secuity informing her of her new 2020 amount. When do these letters go out?
A.C.
Hi, Mark. The cost-of-living adjustment (COLA) notices for 2020 were mailed throughout the month of December. For more information, visit our Frequently Asked Questions. We hope this helps.
Kathleen M.
I want to know if I can refuse it .? If my check goes up at all I will lose my medicaud and part of my food benefits