It is important to keep up-to-date when it comes to Social Security changes and notices. Overpayments are one of the reasons why the Administration may contact you, but this time it is not about that.
In December 2023, the Social Security Administration will send notices to all retirement and disability beneficiaries. The reason to do so is to inform them about their new COLA increase and amounts.
Most disability and retirement beneficiaries will be able to check it on online. The only thing you will need to look for is the Message Center on your my Social Security account. If you still have no SSA account you can easily create one. It is free and secure.
WILL I RECEIVE A COLA NOTICE BY MAIL?
It is possible to receive COLA notices from Social Security by mail. However, this is not possible if you opted out of getting notices by mail. Of course, opting out of them is only possible for notices that are available online.
If you have not gotten a my Social Security account yet, create one. Then, visit the Message Center to see if you have received any notifications. After that, make sure you select your favorite way to get messages, by mail or online.
Choosing the way you prefer to receive courtesy notifications from Social Security is simple. In this way, you will not miss any important information. Do not click on links that you receive by mail or on your mobile phone.
Nowadays, there are too many scams trying to trick people into giving personal information or even sending money. If you are not sure whether Social Security is contacting you or not, visit them before you do something you can regret.
SOCIAL SECURITY INFORMS OF SSDI AND RETIREMENT BOOST
Apart from the COLA notice, the Administration has informed of the payment amounts for Supplemental Security Income beneficiaries. It will be on December 29, 2023, when SSI recipients will get their COLA increase.
The new SSI amounts will be $943, $1,415, and $472 for a single, married, or essential person getting these benefits in 2024. An SSDI beneficiary can get $1,489 in 2023 and it will be $1,537 in 2024.
Retirees will receive higher payments on average. So, their boost will be more than the 50-dollar increase for all Social Security beneficiaries. As a matter of fact, it will be about 59 dollars.
Seniors get on average $1,848 in 2023, but after the 2024 COLA jump it will be $1,907. Maximum amounts have increased for retirees too. At the age of 70, you can get up to $4,873 in 2024. The largest payment at Full Retirement Age will be 43,822 in 2024.