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
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Nancy E.
Why don’t you tell the truth about what really happens, at least so far as my experience goes and what I’ve found by my research… ??? Apparently the Feds like to make a big deal about announcing increases, but if a person is also on Medicare, YOU WILL NEVER RECEIVE A COLA… I’ve been on SS for nine years, and I’ve NEVER had one penny of my SS change due to COLA; and that’s by design — BY THEIR PURPOSEFUL DESIGN. I was told that That’s How It’s Done — every time there’s a supposed, alleged “cost-of-living increase,” they INTENTIONALLY, AUTOMATICALLY raise our cost of Medicare in exactly that same amount. In direct opposite to your article — WE NEVER RECEIVE COST-OF-LIVING RAISES, or I never have, and that background information is what I have been told by several Medicare experts (and one when I called the actual, official SS office… and since I rarely use Medicare, this passive-aggressive stance by our government does not feel good, to me — and what feels even less good is that we’re being lied to about it, by you (as in this article), Ms. Darlynda Bogle, Assistant Deputy Commissioner, and all the rest…
Smith M.
When the years passes the dwelling coverage for homeowners insurance decreases where as the premium amount increases.
Judith S.
Were the papers mailed out yet about what an individuals social security benefit increase for 2020 will be? I don’t recall receiving one. If they went out already, can I obtain the information elsewhere?
-richard a.
have not received my cola letter yet, please advise when I should receive it, Thank you
Margie C.
when are we going to get our notice of increase..
Margie C.
I called because they blocked me from my account where I have user name and password and when I called they told me it would be hour and half wait to talk to someone. t
Margie C.
Social Security keeps blocking my account. I do have a user name and password.
A.C.
Hi, Margie. We are sorry to hear that. If you are still unable to access an account or encounter a problem with your personal my Social Security account, you may:
•Call us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7:00 a.m. to 7:00 p.m. At the voice prompt, say “helpdesk”; or
•Contact your local Social Security office. We hope this helps.
Brandy M.
My 95 year old mother does not have an email account. How can she get her 2020 SSA Benefits statement? Can she receive it by mail.? Please advise. I am her only daughter/caregiver. She needs that letter for medical and VA purposes. Please contact me via email or through the mail. Her name is Margaret Molina
Address: 3521 Legacy Circle, Granbury TX 76049
A.C.
Hi, Brandy. For your mother’s security, we do not have access to private information in this venue. She can call us at 1-800-772-1213, Monday through Friday, between 7:00 a.m. and 7:00 p.m., for assistance. Generally, she will have a shorter wait if she calls later in the day. She can also contact her local Social Security office. Just a reminder – please be cautious about posting personal information on social media. We hope this helps.
Erma M.
Without using a robot call, I need to find out if the 2020 Benefit Award Letters were mailed. I have not received mine… and I cannot be placed in the que, waiting to speak to a live person, for 55 minutes! Thanks!
A.C.
Hi, Erma. 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.
Donna R.
what will my increase of my social security benefits be in 2020
A.C.
Hi, Donna. 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.