First COLA Payment 2022: Are You Eligible To Receive This Check In A Few Days? - Market News
Home » First COLA Payment 2022: Are You Eligible To Receive This Check In A Few Days?
Social Security

First COLA Payment 2022: Are You Eligible To Receive This Check In A Few Days?

First COLA Payment 2022: Are You Eligible To Receive This Check In A Few Days?

J13 years is the marked date for the spread of Social Security COLA Payments

If you were born between the first 10 days of each month, expect to receive a COLA payment in the mail.

in 2022, COLA payments expect a 5.9% increase for 2021 as a result of inflation adjustment. This is the largest adjustment since 1982.

For example, employees will receive a monthly check that will increase from $1,565 to $1,657 per month. The increase in wages is linked to the increase in the consumer price index – inflation – determined by the US Bureau of Labor Statistics.

Persons with birthdays in between January 11 and January 20 receives a benefit on the third Wednesday of the month.

People whose birthday is between the 21st and 31st of the month can also expect payout on the fourth Wednesday of the month.

Who can receive the check?

The Social Security Administration (SSA) will mail COLA notices to retirees, survivors, and disabled beneficiaries throughout December.

Unpleasant SSI Receivers, the monthly check will rise to about $841 from $794. They also receive letters explaining the increase.

Divorced retirees and their former spouses are also eligible for additional benefits. If your ex-spouse qualifies for retirement benefits on his or her own record, SSA will pay that amount first.