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Adjusting the cost of living for social benefit recipients in 2021.

Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3 percent in 2021, the Social Security Administration.The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2020. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.
Our petition aims to revise payments for the previous 2020 and 2019. Take into account all payments for previous years and make an additional adjustment payment in one of the future months, which would take into account previous years.

This additional payment would help ordinary citizens in planning their budget and greatly improve their social situation.
Resources:
https://www.wtvy.com/2020/12/31/social-security-recipients-get-cost-of-living-adjustment-in-january/
[url=https://ssa-office.com/infographics/average-social-security-benefits-for-retirees/]ssa research[/url]

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