Each year the Social Security Administration looks over reams of data and announces whether a benefit increase will be applied, and if so, how much, to keep recipients up with inflation — although how well that happens is up for debate.
Nevertheless, the 2014 cost-of-living adjustments (COLAs) have been determined and Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 1.5 percent increase in their benefits for 2014 — a slightly lower increase when compared to the previous year.
For example, if you received $1,261 per month in 2013, you’ll begin to receive $1,280 per month beginning in January 2014. There are some other examples in this chart.
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