Social Security Benefits to Remain Unchanged
By Michelle Diament ~ disabilityscoop.com
For only the third time in decades, individuals with disabilities who receive Social Security benefits will see no increase next year in their monthly payments.
The Social Security Administration said that there will be no automatic cost-of-living adjustment, or COLA, for 2016. That’s because inflation is too low [due primarily to low gasoline prices] to warrant an automatic benefit hike, the agency said.
Since 1975, federal law has mandated that Social Security benefits adjust upward annually to account for increases in inflation as measured by the Consumer Price Index. There have been only two other years — 2010 and 2011 — without a COLA.
Without an adjustment, the maximum federal Supplemental Security Income benefits for individuals will remain at $733 per month. For couples, that figure will continue to be $1,100 per month.
California supplements SSI benefits for their residents so actual payments may be higher.
Across the nation, over 59 million people receive Social Security benefits and 8 million rely on SSI.
Additional information is available at www.ssa.gov.