Social Security Benefits Increase in 2021
Reading Time: 2 MinutesLast Updated: November 2, 2023
Approximately 70 million Americans will see a 1.3 percent increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2021. 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, leading to a higher cost-of-living. This change means prices for goods and services, on average, are a little more expensive, so the cost-of-living adjustment (COLA) helps to offset these costs.
We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. But, if you want to know your new benefit amount sooner, you can securely obtain the Social Security COLA notice online using the Message Center in your personal my Social Security account. You can access this information in early December prior to the mailed notice.
If you prefer to access your COLA notice online instead of receiving the mailed notice, you can log in to your personal my Social Security account to opt out of a mailed COLA notice and any other notices that are available online by updating your Preferences in the Message Center. You can also choose to receive a text or email alert when there is a new notice. That way, you always know when we have something important for you – like your COLA notice. If you don’t have an account yet, you must create one by November 18, 2020 to receive the 2021 COLA notice online.
January 2021 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 in 2021 will be higher. The retirement earnings test exempt amount will also change in 2021.
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.
You can find more information about the 2021 COLA here.
Did you find this Information helpful?
Tags: COLA, my Social Security, my Social Security account
See CommentsAbout the Author
Darlynda Bogle, Assistant Deputy Commissioner
Darlynda Bogle, Assistant Deputy Commissioner
Comments
Comments are closed.
Bob S.
I would like to know the calculation for my next year benefit payment reduction due a stock sale capital gain this year.
I tried the website search but no luck
Thank you
Bob
Vonda
Hi Bob, thank you for using our blog. To determine if you’ll pay higher premiums, Social Security uses the most recent federal tax return the IRS provides to us. If you must pay higher premiums, we use a sliding scale to make the adjustments, based on your modified adjusted gross income (MAGI). Your MAGI is your total adjusted gross income and tax-exempt interest income. We hope this helps!
barbara h.
how can I get a copy of my 2021 socialsecutity amount
Vonda
Hi Gail, thanks for using our blog. We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. If you would like the notice, sooner, you can securely view and save the Social Security COLA notice online via the Message Center inside your my Social Security account in early December without waiting for the mailed notice. If you don’t have an account, create one today. We hope this helps!
Susan
I have not got a increase in my ssi , in 2018,2019 nor 2020.i will have to call a lawyer to look into it.
Vonda
Hi Susan, thanks for using the blog to ask your question. All monthly Social Security and Supplemental Security Income (SSI) benefits for more than 70 million Americans will increase 1.3 percent in 2021. For more details about the new COLA, visit our Cost-of-Living Adjustment information page.
Carlita H.
What will be the cost for Medicare B 2021?
Vonda
Hi Carlita: The standard Medicare Part B premium for medical insurance in 2021 is $148.50.
Richard V.
I have searched for a printable “Schedule of Social Securit Benefit Payments 2021” EVERYWHERE on the Social Security Web Site AND on my account, but there is none! The Calendar that i print out every year is what I’m talking about. The Calendar showing the SS payment dates. Publication 05-10031 Please tell me where i can find it.
Ellie U.
https://www.ssa.gov/pubs/EN-05-10031-2021.pdf
try coping and pasting this link. The title online says “Schedule of Social Security Benefit Payments 2019” but when you click on it, it’s actually the one for 2021. Hope this helps!
danny h.
I’m retiring at 62 from ssdi I have medicaid will have to get medicare.
Vonda
Hi Danny, thanks for using our blog. When you receive disability benefits under the Social Security Disability Insurance (SSDI) program, we will automatically convert your disability benefits to retirement benefits, when you attain your Full Retirement Age. The benefit amount will generally remain the same.
Generally, individuals receiving Social Security benefits are automatically enrolled in Medicare Parts A and B when they turn 65.
Michael G.
I received my new statement for what SS I will receive in 2021. We had one-time terminations of 2 retirement accounts in 2019, thereby overstating our normal income. Plus, both my wife and I quit our part-time jobs that we had in 2019. Our combined income in 2019 was over $300,000 and the part B Medicare was set to $326/month. In 2020 we will only have 2 sources of income. My wife’s job is about $38,000 and I have a State of PA pension of $103,000, per year.
How do I request a new decision about my IRMAA?
Vonda
Hi Michael, thanks for using our blog. To report a Medicare Income-Related Monthly Adjustment Amount Life-Changing Event, complete and return form SSA-44 to your local Social Security office. We hope this helps.
Lauren J.
I am trying to find the fax number to send in social security applications. Please send this to me as soon as you can.
Thank you,
Lauren Jaton
Vonda
Hi Lauren, thanks for using our blog. Use our Social Security Office Locator to obtain contact information for your local office. Thanks!
Kathy S.
I received $1190 a month for Social Security. The letter your sent out with the amount of increase for 2021 is for 1.3 %. The letter stated that in 2021 I will receive $1192 per month. That does not come out to 1.3% increase.
Vonda
For your security, Kathy, 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 for assistance or you can contact your local Social Security office. Please look for the general inquiry telephone number at the Social Security Office Locator. The number may appear under Show Additional Office Information. Please be aware that our call wait times are longer than normal. We hope this information helps.
James A.
How do i find out of a critical payment has been processed and sent to my bank account?
Vonda
Hi James, thanks for using our blog. Contact your local Social Security office. Look for the general inquiry telephone number at the Social Security Office Locator. The number may appear under Show Additional Office Information. Please be aware that our call wait times are longer than normal. We hope this information helps.
Griselda F.
I have been calling and on-line but to no avail. I just want to know my status with my social security and my disability. I want to know if I am still under the same benefit plan
Vonda
Hi Griselda, thanks for using our blog. You can contact your local Social Security office. Look for the general inquiry telephone number at the Social Security Office Locator. The number may appear under Show Additional Office Information. Please be aware that our call wait times are longer than normal. We hope this information helps.
Sherry A.
I received a letter from SSA regarding my Survivors Benefits.
*The first line states: What you should know Based on information we cannot pay benefits beginning January 2020.
*The second line states: What we will pay and
when, You will receive this _____ amount For
December 2020 around January 27, 2021.
*Since I received this information before I’m don’t understand.
*Which is it? Is SSA saying I will NO longer receive benefits?
Sherry A Davis BNC#20T2274G69465-D6
Thank you for your help!
Vonda
Hi Sherry, thanks for using our blog. Please contact your local Social Security office. Look for the general inquiry telephone number at the Social Security Office Locator. The number may appear under Show Additional Office Information. Please be aware that our call wait times are longer than normal. We hope this information helps.
Ada R.
I would like to receive an up to date social security benefit letter.
Vonda
Hi Ada, thanks for using our blog. Check out our Frequently Asked Questions web page for details on how to get a benefit verification letter. This letter is sometimes called a budget letter, a benefits letter, a proof of income letter or a proof of award letter. You also may be able to request a benefit verification letter by using our automated telephone service at 1-800-772-1213. You can conduct the automated services 24 hours a day. At the prompt, indicate that you’re requesting a proof of income letter. We hope this helps.