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SSI Payments To Increase

Date Released: 
Mon, 11/03/2014

SSI Payments To Increase

Monthly Social Security payments — including those for Supplemental Security Income beneficiaries — will go up next year.

Benefits will rise 1.7 percent in 2015, the Social Security Administration said Wednesday.

The increase is triggered by law through an automatic cost-of-living adjustment known as COLA, which is based on inflation.

The change will affect 58 million people on Social Security starting in January and eight million SSI recipients beginning Dec. 31, officials said.

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