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What is the cost of living increase for social security?

Soon after the publication of September CPI data on October 18th, 2002, the Social Security Administration (SSA) announced the annual increase in its benefit payments for the coming year. This change will mean automatic increases in payments from Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) and Supplemental Security Income (SSI) programs. The increase will be effective with December 2002 payments received in January 2003. Specific information on the size of the increase is available on the SSA website at http://www.ssa.gov/OACT/COLA/COLA.sum.html.

 

Last Modified Date: October 21, 2002