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Uncovering the Changes in Store for Social Security: Get the Details Now!

Starting December 2020, Social Security (SS) checks will be seeing some changes. This change is set to give SS check recipients a much needed extra boost to their income during this difficult time for so many folks across the country. Social Security is a benefit program funded by the U.S. Treasury that is paid to retired or disabled individuals and their families based on an individual recipient’s work history. It is the largest source of income for retired people, providing retirement, disability, and survivor benefits. The change taking place in December 2020 will mean that all SS check recipients will receive a one-time supplement of $200 per month. This supplement is a way for the government to boost the income of SS check recipients during the current economic hardship caused by the COVID-19 pandemic and is meant to benefit those living on SS incomes especially hard. The change will also mean that the amount of SS checks for 2021 will also see an adjustment. SS recipients will see their payment amount rise by 1.3%, or an average of $20 a month. This is the largest cost of living increase that SS checks have seen in 4 years. Although the extra $200 won’t be part of recipients’ ongoing income, it will serve to ease the current financial burden of living on SS income. For those whose SS checks that are less than $1,200 a month, this one-time supplement will help cover basic necessities. If you are one of the around 70 million Americans who currently receive an SS check, be on the lookout for the one-time supplement as well as the cost of living increase in 2021.