Social Security Agency Sounds Alarm Over $600 Payment Scam

The U.S. Social Security Administration sounded the alarm this week over a $600 payment increase scam that has been promoted online. “Reports of a $600 payment increase are FALSE, please be aware and don’t fall for this stunt,” Social Security Commissioner Martin O’Malley said in a news release. The claims about a $600 increase appear to be based on reports and projections about the cost-of-living adjustment applied to monthly Social Security retirement benefits and Supplemental Security Income (SSI) payments. The agency typically announces the adjustment in October, factoring in federal inflation data for the previous three months, and the cost-of-living adjustment is then applied for the next year....