Posted on November 20, 2013 6:20 pm

Social Security, SSI Benefits to Rise in 2014

Monthly payments will increase next year for people with disabilities receiving benefits from Social Security, including Supplemental Security Income.

The Social Security Administration said that benefits will rise by 1.5 percent in 2014.

The automatic adjustment known as COLA is intended to account for higher cost-of-living and is triggered by law when inflation goes up.

Many states add to SSI benefits for their residents. In California, the actual increases are reflected in this table: SSI-SSA Rates for 2014.

The COLA for 2014 is similar to that seen this year when benefits rose 1.7 percent over last. Prior to that, beneficiaries saw their monthly checks increase more substantially in 2012, jumping 3.6 percent, after seeing no COLA at all in 2010 and 2011 because inflation was too low to warrant an adjustment.

Federal officials were originally scheduled to release information about the COLA for 2014 weeks ago, but the announcement was delayed until now by the government shutdown.