Skip to main content

Oct 17, 2006- Social Security Benefits To Increase 3.3% Next Year

October 17, 2006

The cost-of-living (COLA) increase in 2006 was 4.1%. The COLA adjustmentsare based on the Consumer Price Index.

The COLA increase will be reflected in Social Security checks starting inJanuary 2007, while the increase for Supplemental Security Income beneficiarieswill begin on December 30.

The maximum Social Security benefit for a worker retiring at full retirementage in 2006 is $2,053 per month. That amount will increase to $2,116. Fullretirement age in 2007 will be 65 years and 10 months.

The estimated average Social Security monthly benefit payable in January2007 will be $1,044, or $1,713 for an aged couple, both receiving benefits.

Click here for the Social SecurityAdministration's fact sheet with information about the 2007 SocialSecurity benefits. (You must have Adobe Reader, available for free here, to view this document)