COLA increase 2022 update – Maximum Social Security benefit recipients can get $4,194 as March payment date revealed

AROUND 70million Americans will receive bumped-up monthly social security payments worth up to $1,658 this year. The new cost-of-living adjustment (COLA) means that checks are 5.9 percent higher compared to 2021. Millions have already received their first increased payment since Social Security payments are allocated based on birth dates. Claimants born between January 1 and January 10 got their first increased payout on January 12. In 2021, the average monthly payment for retired workers was $1,565, and that rose to $1,657 with the 5.9 percent COLA increase. February’s first batch of SSI checks is on the way to help recipients… Read Full Article