Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 60 million Americans will increase 3.6 percent in 2012, the Social Security Administration announced.
The 3.6 percent cost-of-living adjustment (COLA) will begin with benefits that nearly 55 million Social Security beneficiaries receive in January 2012.
Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2011.
For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums
Information about Medicare changes for 2012, when announced, will be available at www.Medicare.gov.
The Social Security Act provides for how the COLA is calculated. To read more, please visit www.socialsecurity.gov/cola