The cost of living in the US is increasing due to inflation.
However, the Social Security Administration announced that early in 2022, Social Security recipients will receive a historically COLA allowance raise.
The benefit’s increase ascends to 5.9%, higher than any other year.
Everything is connected. The benefits and the inflation are tied. That’s why there’s a historic raise.
How much will I receive?
Average recipients will receive around $1,657 monthly payments. The average couple will get an estimated $2,574 monthly benefit.
When will benefits arrive?
The arrival payments will depend on your birthday. Nevertheless, they will begin in January.
The checks will start arriving on January 12 for people born from the first to the 10th day of the month.
The next wave arrives on January 19. People born between the 11 and 20 days of the month will see their checks on that date,
January 26 is the last arrival date. People born during the 21 until the 31 will receive benefits around that date.