Social Security benefits to get largest increase since 1982

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022.

The 5.9 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2022. Increased payments to approximately 8 million SSI beneficiaries will begin on December 30, 2021.

The boost will translate to an average monthly increase of $93 for retired workers, $47 for the spouse of a retired worker, $87 for an “aged” widow or widower, $46 for a widow or widower who is disabled, and $75 for a worker who is disabled, according to estimates from the SSA.

The “monthly maximum federal” SSI amounts in 2022 will be “$841 for an eligible individual, $1,261 for an eligible individual with an eligible spouse, and $421 for an essential person,” the SSA said.

 

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Zac Oakes is the News and Sports Director for LakerCountry.com and Laker Country WJRS 104.9 FM.