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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.
Retirement Blog. Social Security going up 1.7%. Social Security announced this morning that the annual cost of living, or COLA, increase for 2015 will be 1.7 percent. For the average Social Security recipient, that is a monthly increase of about $22.20, bringing the payment to about $1,328 per month or $15,938 a year in 2015.