The recent updates that the cost-of-living adjustment for Social Security beneficiaries will be 5.9% in 2022 was likely welcome news to many seniors. After a year of financial uncertainty and rising inflation, this boost is needed. However, as you plan for next year, you might wonder when, exactly, you’ll see this raise take effect.
2022’s COLA will show up in Social Security checks in January. For SSI recipients, according to Fox Business, this increase could be reflected as early as January. It’s a good idea to take a look at either your direct deposits, paper checks, or your online account with Social Security at the start of the year. This will show you exactly how much you can expect to receive each month so that you can plan ahead.
At The Seniors Center, we’re fighting to protect Social Security. 2022’s COLA isn’t enough. We’re calling on Congress to pass the Social Security Lock Box Act to ensure that the funds seniors deserve won’t be spent by greedy politicians. Use your voice by signing our online petitions today. Then, follow The Seniors Center on Twitter and Facebook so you never miss an update.