Social Security checks getting bigger

SOCIAL Security claimants will start seeing bigger checks this month in the largest benefits boost since the 1980s. The payments will be the first social security payments to include the 5.9 percent cost of living adjustment (COLA) bump that was announced earlier this year. 1 Claimants can expect bigger checks in 2022 This number adjusts for inflation, which has surged 5.4% since September due to high consumer demand. The COLA is calculated based on data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which measures changes in the cost of popular goods and services. The… Read Full Article