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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Can You Tell Me What My Raise Will Be For 2022?
My name is Bessie I receive $949 benefits each month for social security can you tell me what my raise will be for 2022 next year
Hi Bessie. The Social Security cost of living (COLA) increase for 2022 is 5.9%, so that should raise your monthly benefit rate by roughly $56 (i.e. $949 x 1.059). However, the increase in your actual payment amount could differ depending on what if anything you have deducted from your benefit payments, such as Medicare premiums. Social Security should send you a notice in the near future that will tell you your new benefit rate.
Best, Jerry
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December 12, 2021