US Social Security Administration Office Warns of $600 Benefit Scam Involving Fake Cost of Living Increase

$600 Benefit Scam: Following the disclosure of information regarding a fraud, the United States Government has cautioned Americans to exercise caution when verifying information regarding their Social Security payments.

Scammers are claiming that there will be a $600 Social Security payment rise in June 2024. U.S. officials labeled the claims of a $600 COLA increase as “false” and stated that they should be disregarded. The Office of the Inspector General (OIG) of the Social Security Administration (SSA) recommends that personal information should not be collected for a cost-of-living adjustment.

Social Security Commissioner Martin O’Malley: “False $600 payment increase reports. Beware of this scam.” “We are addressing these bogus claims at the source and are alerting the public to these falsehoods.” COLA will not rise until January 2025.

Inspector General Gail S. Ennis further stated that the annual cost-of-living increases are “always automatic” and that no additional information is necessary to receive the COLA increase.

Claimants are advised to exercise heightened caution when protecting their personal information, as scammers may attempt to take their identity, money, or both.

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Will there be an Increase in the Cost-of-living allowance (COLA) in the Future?

SSA has issued its annual COLA in December since 1983. Claimants receive notices in early December regarding the quantity of their upcoming January payments. Furthermore, upon the announcement of the adjustment, Social Security accountholders will have the ability to access their notice online.

SSA plans to adopt a new cost-of-living adjustment (COLA) in October if applicable. Benefits would begin in January 2025, followed by the COLA. For accurate COLA information, see the SSA website.

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