2014 Social Security Cost-of-Living Adjustment

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.

Estimated Average Monthly Social Security Benefits 2013 to 2014

You can visit our Social Security and Medicare site to learn more about both programs. Also, take a look at these previous posts: The Medicare Myth and Chained CPI – We’re Talking Real Dollars.

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