On January 13, the COLA's Social Security payments will be issued to people that with birthdays before the 10th of each month.
In 2022, COLA payments will increase 5.9% compared to 2021 due to the inflation adjustment. It is the largest adjustment since 1982.
Thus, workers will now see their monthly check increase from $1,565 to $1,657 a month. The increase in payment size is linked to the consumer price Index increase (inflation) determined by the U.S. Department of Labor Statistics.
Individuals with birthdays between January 11 and 20 can expect to receive benefits 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 to receive the check?
The Social Security Administration (SSA) will mail COLA notices throughout December to retirement, survivors, and disability beneficiaries.
To SSI recipients, the monthly check will increase to approximately $841 from $794. They will also receive letters explaining the increase.
Divorced retirees and their former spouses are also eligible for additional benefits. If your former spouse is eligible for retirement benefits on his or her own record, SSA will pay that amount first.
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January 08, 2022 at 02:11AM
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