© 2017 Matthew Ritchie

  • Matt Ritchie

Social Security Benefits Increase in 2020


The Social Security Administration has announced that benefits under the SSI and SSDI programs will be increasing by 1.6 percent for the year 2020. This increase is less than the 2019 adjustment, which was 2.8 percent.


Under federal law, Social Security payments are adjusted each year based on the increase in the cost of living, a staistic that is in turn tied to the Consumer Price Index.


As a result of this increase, SSI payments should be going up from $771 per month to $773 per month. Likewise, for married couples, the SSI payment will be increasing to $1175.