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Social Security recipients could see historically low adjustment

Social Security

Those who receive Social Security payments may see a historically small increase in their benefits.

ABC reported  that millions of Social Security recipients, disabled veterans, and federal retirees could see one of the smallest increases since automatic increases began in 1975.

The cost-of-living adjustment will not be known until the Labor Department releases September’s inflation report. The report was scheduled for release on Wednesday, October 16, 2013, but it was delayed due to the government shutdown, according to the report.

It is estimated that the increase would be about 1.5 percent. The average monthly payment to someone who receives Social Security benefits is $1,162. The estimated raise would increase an average payment by about $17.

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