Social Security Benefits to Increase 5.9% for 2022

Seniors and different Individuals receiving Social Safety advantages in 2022 will see the biggest enhance of their funds in 4 many years, reflecting surging inflation through the pandemic.

Subsequent yr’s cost-of-living adjustment, or COLA, can be 5.9%, the Social Safety Administration mentioned Wednesday. The rise will translate to an addition of $92 to retirees’ common month-to-month profit subsequent yr, bringing the quantity to $1,657.

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