Social Security Benefits See Largest Increase Since 1982
Written by DJ Sight on October 18, 2021
Social security benefits will be increased up to 5.9% by next year, the largest social security increase in almost 40 years.
According to reports the reasoning for the social security benefits increase is due to the rise in inflation.
The 2022 cost of living adjustment will add an extra $92 a month to an average retirement benefit of $1,565 a month.
This adjustment will be paid to 64 million social security beneficiaries at the top of the new year and 8 million disabled people will receive an increase in supplemental SSI benefits on December 30th.
