BREAKING: Social Security checks going up by 5.9%, the highest increase in decades.
WASHINGTON — The Social Security Administration announced Wednesday that recipients will receive a nearly 6 percent increase in benefits next year.
Rising inflation contributed to the Social Security Administration determining that the cost-of-living increase, or COLA, will be 5.9 percent for 2022. Data released Wednesday by the Bureau of Labor Statisticsand the inflation rate rose a seasonally adjusted 0.4 percent in September from August.
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Social Security COLA largest in decades as inflation jumpsWASHINGTON (AP) — Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic .
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Social Security Benefits to Increase 5.9% for 2022Breaking: Americans receiving Social Security benefits will see the biggest one-year increase in their payments in nearly four decades, with next year's gain expected to be 5.9%
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