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COLA 2022 Payments: Have you received your $1,657 check?

COLA 2022 Payments: Have you received your ,657 check?

Many U.S. residents have been receiving a new check, provided they are Social Security beneficiaries, even though they had already received previous cost-of-living adjustment (COLA) benefits.

Millions of Social Security recipients in the United States received a check of $1,657 on January 19, with those who were born between the 11th and 20th seeing their checks land on the third Wednesday of each month.

In addition to the upcoming checks, there will also be a boost of $821 for Supplemental Security Income (SSI) recipients. These claimants were able to get two checks in December thanks to the new cost-of-living adjustment (COLA) and the holidays, while another is set to arrive on February 1.

As the Social Security Administration explain, the monthly maximum for SSI has increased from $794 per month in 2021 for an individual to a monthly amount of $841 in 2022.

This impacts a lot of people in the USA, with a SSA report in July finding that more than 7.8 million Americans receive SSI benefits.

Can seniors claim Social Security and SSI benefits?

Yes, they can.

As a result of the COLA, Social Security payments increased by 5.9% for roughly 70 million retired Americans, which is the sharpest rise in 40 years.

The monthly payments are dependent on your employment history and the age you first began to claim benefits.

COLA notices were sent out by the Social Security Administration (SSA) during December to retirement, survivors, and disability beneficiaries.

Now, any Americans who are expecting to receive these adjusted checks should expect to see them arrive soon.



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