Social Security improve: 5 issues to know, half three
So far as figuring out how a lot you’ll get, the SSA mailed COLA notices all through the whole month of December 2021.
You can too verify your new profit quantity on-line through the use of the message middle in your Social Security account.
“You’ll be able to entry this data in early December previous to the mailed discover,” the SSA wrote in a weblog publish.
Lastly, in the event you’re questioning why funds are growing, yearly, the company usually points a cost-of-living adjustment (COLA) to replicate the gradual improve in costs, referred to as inflation. The COLA helps to offset these prices.
The COLA is calculated primarily based on third-quarter information from the Shopper Value Index for City Wage Earners and Clerical Staff (CPI-W).
In October 2021, the SSA mentioned it might improve COLA to five.9 %, representing the most important improve because the Eighties.