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Social Security benefits will increase by 0.3 percent beginning with the December 2016 benefits, which are payable in January 2017. Federal SSI payment levels will also increase by 0.3 percent effective for payments made for January 2017.
Inflation data suggests that Social Security could increase slightly next year. Image source: Getty Images. The Social Security Administration disappointed lots of Americans last year when it decided against an annual cost-of-living increase.