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Social Security Announces 2021 COLAs


The Social Security Administration has just announced the 2021 Cost Of Living Adjustments (COLA) for Social Security and SSI recipients. Across the board there will be a 1.3% increase in income. This means that for SSI recipients the individual monthly maximum income will now be $794, while a married couple on SSI can expect to receive up to $1,191 a month.

In other annual adjustments, the Trial Work Period (TWP) threshold for SSDI recipients is up $30 to $940; the Substantial Gainful Activity (SGA) threshold for non-blind recipients has jumped to  $1,310. For blind SSDI recipients the figure for 2021 will be $2,190, an increase of $80 on 2020.

The Student Earned Income Exclusion has also seen a rise as the monthly limit will stand at $1,930, and the annual limit has seen a modest but welcome increase from $7,670 to $7,770.

For a full look at all those changes you can go here: https://www.ssa.gov/news/press/factsheets/colafacts2021.pdf