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Thursday, October 22, 2020

SSI, Social Security Benefits Will Increase In 2021



People with disabilities receiving Supplemental Security Income and other Social Security benefits will soon see their payments rise.

The Social Security Administration said this week that benefits will increase 1.3 percent in 2021.

The change comes as a result of an annual automatic cost-of-living adjustment, known as COLA, that’s tied to inflation. By law, Social Security benefits go up when there is an increase in the Consumer Price Index from the U.S. Department of Labor’s Bureau of Labor Statistics.

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