Social Security benefits to rise 1.7 percent next year

Social Security benefits to rise 1.7 percent next year
WASHINGTON (Reuters) - Social Security retirement benefits for nearly 62 million Americans will go up 1.7 percent next year, the Social Security Administration said on Tuesday, a small increase that may not cover rising premiums for the Medicare elderly health insurance program. The average Social Security benefit will rise about $40 a month to a total of $1,260 per month, starting in January 2013 the Social Security administrator said. That amounts to $15,120 per year. ...
Source: news.yahoo.com