Connect with us

Hi, what are you looking for?

California News

COLA 2022 Rollout Schedule Revealed By Social Security Administration, Know Date

COLA 2022 Rollout Schedule Revealed By Social Security Administration, Know Date
Image credits: (Karolina Grabowska/Pexels)

The Social Security Administration has rolled out the schedule of the program’s payments for 2022. It was learned that the payments would be the first to put in the new cost-of-living adjustment (COLA) of 5.9 percent.  

The COLA is computed by checking the Consumer Price Index for both Clerical Workers and Urban Wage Earners for July, August, and September, AS reports 

COLA’s 5.9 percent is the highest in decades  

Next year’s COLA is the highest in over four decades. Most of it results from the unusual inflation brought on by several factors resulting from the ongoing Covid-19 pandemic.  

COLA 2022 Rollout Schedule Revealed By Social Security Administration, Know Date

The Senior Citizens League – a collective that supports the elderly sector in the United States has pointed out that the COLAs implemented to the social security benefits are pretty much behind the market’s actual price hikes over the past decades. The yearly increase to monthly payments will facilitate toward keeping both the disabled and the elderly beneficiaries of the program from losing purchasing power. Nonetheless, a lot from this increase will pretty much make up for similar hikes in the prices of certain goods, including Medicare.  

With that in mind, the league has requested the U.S. Congress to roll out stimulus checks amounting to $1,400 to folks who are on Social Security.  

COLA 2022 schedule  

Meanwhile, the Social Security Administration highlighted that approximately eight million beneficiaries would be getting their initial check alongside the new COLA this December 30. In line with this, over 64 million program recipients will notice increased payments come January 2022 based on SSA’s schedule of payments.   

If the beneficiary’s birthdate falls on the first of the month through the 10th of the same month, that individual’s benefits will be paid on the second Wednesday of the month. That said, January 2022’s first payment is scheduled to be paid on the 12th. Further, if the beneficiary’s birthdate falls on the 11th through the 20th of the month, payment will be made on every month’s third Wednesday. This will be paid on January 19, 2022.  

Folks whose birthdate is on the 21st through the 31st of the month will be paid off on the fourth Wednesday of the month. For this group, it will be paid on January 26, 2022.  

The entirety of the payment schedule is also posted on SSA’s website 

5 Comments

5 Comments

  1. Joseph bulin

    December 8, 2021 at 2:52 PM

    I always got my disability on the third of the vault now I have to wait in the world that means I have to go for weeks no money because my bills come out the first week of the month screwed thanks to the government no $$$$$ four weeks what the F are they thinking about

  2. Susan jordan

    December 8, 2021 at 11:26 PM

    Does that mean everyone’s will change the date. My husband I receive it on the 3rd of month now.

  3. Pingback: Social Security Changes You Can Expect In 2022; COLA Increase Will Help The Citizens - Chronicle News

  4. Pingback: COLA 2022 To Affect Social Security Benefits: Know How Much Can You Receive - Chronicle News

  5. Pingback: Another Stimulus Check for Social Security recipients? Senior Citizens Lobby for $1,400 Payments - Chronicle News

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

Us News

The Social Security beneficiaries are worried about the fate of payroll taxes in 2022. Several factors are involved in calculating these taxes, including wages,...

Personal Finance News

As per as.com, more than 169 million stimulus checks were given out to approved Americans in the third round, and some are calling for...

Us News

Credit cards are convenient and yet they are not for everyone. If you are someone who misses payment deadlines, you should avoid credit cards...

Cryptocurrency News

Walmart is the latest big business house to enter the world of Cryptocurrency and NFT. The retailing giant is taking the first tentative steps...

Us News

When it comes to personal finance, the first thing that any expert will tell you is not to earn more, but to save more....

Us News

The US families have received half of the child tax credit payments in 2021; IRS will issue the remaining payments while the parents file...