Social Security benefits to jump 5.9% in 2022 in biggest increase in 41 years

Summary by Ground News

The COLA amounts to $92 a month for the average retired worker. It marks an abrupt break from a long lull in inflation that saw cost-of-living adjustments averaging just 1.65% a year over the last 10 years. For baby boomers who embarked on retirement within the last 15 years, it will be the biggest increase they've seen.

Published 1 year ago · Washington, United States

News Articles

More Filters

All

Left

Center

Right

Times of India

social security: US Social Security benefits set to increase 5.9% in 2022

US News: With the increase, the estimated average Social Security payment for a retired worker will be $1,657 a month next year. A typical couple's benefits wo

1 year ago·Mumbai, India

Read Full Article

Reuters

U.S. Social Security benefits to rise by most since early '80s

-U.S. Social Security benefits for more than 70 million Americans will rise by 5.9% for next year, the Social Security Administration said on Wednesday, marking the largest annual increase in roughly four decades owing to this year's run-up in inflation. The payments for most recipients will rise in January, though a smaller pool will start receiving their larger checks in December. The

1 year ago·United Kingdom

Read Full Article

USA Today

Social Security cost-of-living increase will boost benefits 5.9% in 2022, most since 1982 amid COVID-19-related inflation spike

Social Security payments are set to rise 5.9% in 2022 for 68 million retirees, disabled people and others. That's the most since 1982.

1 year ago·United States

Read Full Article

CBS Local

Those Eligible For Social Security To See Near-6% Increase In Benefits In 2022

NEW YORK (CBSNewYork) — If you’re one of the millions of people who receive Social Security benefits, you’re going to see a bigger check soon.The Social Security Administration announced Wednesday there will be a 5.9% boost in benefits for 2022.The average retired worker will get about an extra $92 per month — for a check around $1,650.It’s the largest increase since 1982.The boost comes after a year of surging inflation, as the economy struggle…

1 year ago·United States

Read Full Article

Associated Press News

Social Security COLA largest in decades as inflation jumps

WASHINGTON (AP) — Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic .

1 year ago·United States

Read Full Article