Social Security Recipients Slated for 3.6% Raise

For the first time since 2009, Social Security recipients will be seeing an increase - of 3.6% - in their benefits. The increase will go into effect in January.

In addition, about eight million people who receive Supplemental Security Income will also receive the 3.6% increase. In total, the increase will impact about one in five U.S. residents.

A monthly Social Security payment averages out to $1,082, or about $13,000 a year. The increase will raise payments up $39 per month, and $467 per year.

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