thim first Social Security Payments The 2022 Cost of Living Adjustment (COLA) will be issued in eight days for Americans with birthdays before January 10.
COLA payments are: 5.9% higher in 2022 then in 2021, after the largest cost of living adjustment since 1982; an increase of $92 for retirees.
For example, employees will now see their monthly check rise from $1,565 to $1,657 per month. The increase in the amount of payments is linked to the increase in the consumer price index (inflation) determined by the US Department of Labor Statistics.
Persons with birthdays in between January 11 and 20 can expect a payment on the third Wednesday of the month.
Likewise, people with birthdays between the 21st and 31st of the month can expect payment on the fourth Wednesday of the month.
Who is eligible for the check?
The Social Security Administration (SSA) will send COLA notices to retirees, survivors and beneficiaries of disabilities in December.
Unpleasant SSI recipients, the monthly check will increase to approximately $841 from $794. They also receive letters explaining the increase.
Divorced retirees and their former spouses are also eligible for additional benefits. If your ex-spouse qualifies for retirement benefits on his or her own record, SSA will pay that amount first.