Cola Social Security 2022 increase LATEST – $1,104 monthly checks coming January 2022 in cost of living allowance boost

MORE than 64million social security beneficiaries should expect to see a huge 5.9percent cost-of-living adjustment in January 2022. The average cost of living allowance – or Cola, as it is commonly called – will increase by $92 per month from the start of 2022. But the exact amount for each recipient varies, according to CNBC. The huge spike is down to a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. With the increase, the federal benefit will be at its highest point sine 1982. The estimated average Social Security payment for a… Read Full Article