Biggest Increase in 40-years

The Social Security Administration has just announced that SS recipients would see the greatest annual increase in 40 years. As we reported back in June, the COLA is based on the inflation rate during the three Summer months. It was just announce that the increase will be 5.9% for 2022. The average recipient will see a monthly increase of $92 for a total of $1,657 per month or $19,884 per year. Let’s hope that inflation does prove transitory providing our senior citizens and those receiving disability benefits the opportunity to get ahead just a little bit.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s