2014 Social Security COLA Estimate

Social SecurityVarious disability advocacy groups are now putting forth an estimate on how much the Social Security Cost of Living Adjustment, or COLA, increase for 2014 will be.  While these are not official Social Security Administration numbers for the COLA increase, they are usually pretty accurate.  The current estimate of most advocacy groups is a 1.5 Social Security Cost of Living Adjustment for 2014.  This means that those on SSI, or Supplemental Security Income will see a COLA increase of about $10, for a federal benefit of $720.  Some states supplement SSI, so the amount you see may vary from state to state.

People that receive retirement benefits, disability benefits of disabled adult child benefits should multiple their 2013 monthly social security payment by .015 to get the additional earnings they will get next year.