Retirees: This is How A lot Your Social Safety Checks Will Improve in 2022

Social Safety recipients are about to obtain one among their greatest profit hikes in a long time.

Practically yearly, the Social Safety Administration implements a cost-of-living adjustment (COLA) to issue current inflation into the dimensions of beneficiaries’ month-to-month checks, giving them a shot at maintaining with rising prices. It is one of many greatest perks of the Social Safety program.

Subsequent yr, retirees and different beneficiaries will see their month-to-month funds enhance by a whopping 5.9% — the largest hike in roughly 40 years. For comparability, 2021’s COLA was simply 1.3%, and so they have usually landed between 1% and

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