Everyone is wondering when the Social Security Cost of Living Adjust, or COLA Increase will go into effect. Social Security Beneficiaries including those who receive SSI, retirement, Disability and DAC will receive a 1.5 percent increase in their payeffective the January 2014 Payment. This means that when you receive your payment for Social Security for the Month of January 2014 you will see your 1.5 percent Cost of Living Adjustment. SSI Recipients will receive their January 2014 payment on December 31st as New Years day is considered a holiday. Others will receive their payments as scheduled.