Social Security recipients will receive 1.7 percent bigger checks in 2015

Social Security recipients will receive 1.7 percent bigger checks in 2015, the Social Security Administration announced last week. And some groups of workers will begin receiving benefit statements in the mail with a list of taxes paid and an estimate of their future retirement benefit. Here’s a look at the new Social Security benefits, taxes and services workers and retirees will experience in 2015:

Bigger payments. The 1.7 percent cost-of-living adjustment is expected to result in the typical retiree getting about $22 more per month. This change will increase the average monthly benefit for retired workers in January 2015 from $1,306 before the cost-of-living adjustment to $1,328 after. The average benefit for retired couples who are both receiving benefits is projected to increase by $36 to $2,176 per month. http://finance.yahoo.com/news/5-social-security-changes-coming-141022186.html