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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Barbara W.
When does our statement of benefits come for 2020
We usually get next year statement of monthly income in November
My social security info
Barbara A Wright
*** – ** – ***
May 10 194
My spouse information
Jahn L Wright
*** – ** – ***
March 28 1943
My phone 505 350 7617
Our address
3093 Ashkirk Loop SE Rio Rancho N M 87124
Thank you
A.C.
Hi, Barbara. If you still need a benefit verification letter, you can view, print, and save your benefit verification letter by creating a personal my Social Security account online. Just a reminder – please be cautious about posting personal information on social media. We hope this helps.
Sharon P.
Have the 2020 Benefit Award Letters been mailed and if not when do you think they will be.
Norman L.
My wife and I have not received the actual paperwork that shows how much each of us will receive beginning in 2020. Today is December 20,2019 and usually by now we have had this information in the past.
Thank You Norman L. Davis
A.C.
Hi, Norman. If you still need a benefit verification letter, you can view, print, and save your benefit verification letter by creating a personal my Social Security account online. We hope this helps.
Kathleen s.
When will letter/notice if 2020 benefits be mailed
Charles S.
Hello I presently live overseas and have no permanent address in the US.. How can I I create a my social security account….since I have no US address.?.
I do have a letter from Social Security from 2011 saying after monthly insurance amount taken the Social security check would be $714 each month.
It says 836 bebefits had been paid and the check for 714 and premiums 122.
However the last 4 checks in 2010 and this in 2011 were lost….and I quit claiming because I was making money from different clients as they became available…but not on salary. So I did follow up on the social security since I was generating money during the next few years that was a little more than social security but lower than taxable amount.
I now have no job at 76 and no income. How can I find out what I am entitle to receive.
Is the the amount different if I live overseas.
Also if I have a British wife who I have not registered at the US consulate how will that affect my social security..She is 74 and does not work.
If you can not answer my questions please refer me to someone who can.
I have sent several emails to the US consulate social security contact in UK but got no response even when I included my social security number.
It is urgent that I get an answer in the next few days because I am appealing a UK home office decision. They will need to know my social security status in the US…
Thank you.
A.C.
Hi, Charles. Unfortunately, you must have a U.S. mailing address to create a personal my Social Security account. However, you can contact your local Federal Benefits Unit for any assistance related to Social Security benefits. Also, our Office of International Operations home page provides more information to assist our customers living abroad. We hope this helps.
DaVID H.
I have not recieved my social security amount for 2020 .My wife got hers a long time ago
A.C.
Hi, David. If you still need a benefit verification letter, you can view, print, and save your benefit verification letter by creating a personal my Social Security account online. We hope this helps.
Richard K.
I need to know what my social security pension will be in 2020. Thank you.
A.C.
Hi, Richard. If you need a benefit verification letter, you can view, print, and save your benefit verification letter by creating a personal my Social Security account online. We hope this helps.
Garnet R.
Are all the new benefits amount papers all been mail out? My wife Rita got hers about a week ago and I have not received mind yet. Is there a phone number in the Fort Fairfield, Aroostook County, Maine area that I should call to see what happen to my paper? Garnet Rochford
ronald s.
Yes I get a raise in SS at the same time, cut my food stamps….Hoodlums
Susan B.
The 1.6% increase is offset by the premium increase in Part B, increases in hospital deductibles and the ever-increasing cost of prescription drugs. Disappointing to say the least.