January 21, 2022

2022 Social Security Payments: Will You Receive a $1,657 Check This Week Due to Huge Cost of Living Increase?

sfrom this year, social security recipients will experience the largest increase in the checks of the last 40 years. They will be the first payments to incorporate the much-discussed 5.9% COLA increase. Many have seen the rise so high as a result of rapid inflation, which has risen 5.4% since September. As a result, the increase increased the average Social Security Check a total of $92, bringing it to $1,657. In total, the most anyone can collect in 2022 has risen over $4,000, which equates to $4,194. In 2022, the amount of income a person earned and was required to pay Social Security taxes was capped at $142,800. This went down to $147,000 flat.

Who gets that extra $200 a month?

For those wondering when they will get their Social Security Payments, which are not sent based on someone’s birthday. All first checks for this year will be sent out on January 12 for anyone between their 1st and 10th birthday. Any person whose birthday is between the 11th and the 20th gets their checks January 19. People whose birthday is 21 and later will receive that check on January 26. This gives people a whole new perspective on how these payments will help them overcome the tough times we are all going through.

Payments are made on the second, third and fourth Wednesday of the month. All married couples will experience an average increase of about $154, while employees who are disabled will see an increase from $1,252 to $1,358 each month. A total of 8 million SSI recipients also experienced check raises on Dec 30, 2021.

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