This year the COLA increases the Social Security payments worth up to $1,657 that will be released to 70million Americans this month and it is already set to be given away next week.
This year the COLA increases the Social Security payments worth up to $1,657 that will be released to 70million Americans this month and it is already set to be given away next week.
Here’s What You Need to Know About Your New $1,657 Social Security Check
The 2022’s first COLA social security checks will be issued in just days and the average is about $1,657 per beneficiary. Moreover, retired workers will now know their average monthly check that will increase from $1,565 because of the new cost-of-living adjustment(cola) Therefore, the checks increase 5.9 percent higher compared to 2021.
Starting January 1, the increase continues to reach high records across the country amid the supply chain crisis. It is the highest annual rise since 1982. Retired worker spouses will collect a boost of $47, taking average payments from $794 to $841. Furthermore, employees with a disability will be able to have $75 on average as their check increases to $1,358 a month from $1,253.
Read Also: 2.7 Percent Increase Pay Increase Starts On The First Day Of This Year
Here is the Schedule for the Release and Some Possible delays to know
Birthdays that fall between the 11th and 20th can collect their benefits by the 3rd Wednesday and claimants with birthdays from the 21st through the 31st will receive their checks on the fourth Wednesday of the month. In Addition, this January 12, January 19, and January 26, beneficiaries are set to receive their Social Security checks.
However, Americans need to keep in mind that their certain reasons why is your Social Security check doesn’t arrive on the expected date each month. There are a lot of possible scenarios causing delays and of course, this is out of your control. Office delays are said to have been the most likely cause of delayed monthly benefits. Influx is usually the cause of the delay due to the slow processing and crowded area. One way you can avoid delays is by making sure your banking and address information is up to date.
Fortunately, changing information is as easy as you think. Once you decided to move or change your personal information in your bank, you can easily update it by signing into your account. Additionally, for banking information, you can do this under the “Benefits & Payment Details” section and under “Update Contact Information” to update your home address. Moreover, the payment of Social Security dates could be modified and should be altered by the holiday schedule in a particular month.
Related Article: Up To $1,261 Stimulus Checks To Be Sent Automatically To Disabled Americans
