In just a few days, millions of Americans will get a Social Security payout worth an average of $1,657. Anyone receiving these benefits has seen their check raise by 5.9 percent due to the COLA.
This took effect on January 1st, having being announced in October amid high rates of rapid inflation.
The Consumer Price Index for Urban Wage Earners and Clerical Workers was used to get the 5.9 percent.
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From 2021 to 2022, the average gain was roughly $92.
Anyone born between the 20th and 31st of any month should expect to receive their cheques on Wednesday, February 23.
The next payout will be mailed on March 9 to everyone born between the first and tenth of the year.
If your birthday falls between March 11th and March 20th, your next check will be mailed on March 16th.
Receiving Payments Electronically
Other details regarding 2022 Social Security.
Couples’ average payments increased from $2,599 to $2,753. Benefits for disabled Americans increased from $1,252 to $1,358.
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Everyone receives benefits should have received a letter outlining the changes in December.
If your payment is overdue, you must wait three days before notifying the Social Security Administration. You can reach them via phone or online.