How Much Will Social Security Recipients Collect Monthly in 2019?


How Much Will Social Security Recipients Collect Monthly in 2019?
 

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 67 million Americans will increase just 2.8% in 2019, the federal government recently announced. When you want scholarships, visit scholarships for international students in usa.

The 2.8% cost-of-living adjustment (COLA) will begin with benefits that more than 62 million Social Security beneficiaries will receive in January 2019. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2018. (The Social Security Administration (SSA) notes that some people receive both types of benefits.)

The COLA amount for 2018 was 2.0%.

The purpose of the COLA, the SSA explains, is to ensure that the purchasing power of benefits is not eroded by inflation. The COLA is based on inflation changes as measured by the Consumer Price Index.

Estimated Average Monthly Social Security Benefits in 2019

Type of Benefit
or Family
Before
2.8% COLA
After
2.8% COLA
Increase
Benefit TypeAll retired workers$1,422$1,461$39
All disabled workers$1,200$1,234$34
Family TypeDisabled worker, spouse and one or more children$2,72$2,130$58
Aged couple, both receiving benefits$2,381$2,448$67
Aged widow or widow(er) alone$1,348$1,386$38
Widowed mother and 2 children$2,797$2,876$79
— Source: Social Security Administration