Due to increases in the cost of living, the Social Security Administration has increased the amount of benefits it provides to Social Security and SSI recipients by 3.6%. Next year, the maximum Social Security Benefit will increase from $2,366 per month to $2,513 per month. The tax rate, however, will remain unchanged for those still working.

To learn more about the COLA increases for 2012, visit the Social Security Administration’s website at http://www.ssa.gov/pressoffice/factsheets/colafacts2012.htm.

by Fuller & Fuller Attorneys at Law
Last updated on - Originally published on

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