fbpx
13 C
London
Wednesday, September 28, 2022

Stimulus Check 2022: Who Will Receive The Second SSI?

The government provides stimulus checks to retired, low-income, and handicapped Americans through Social Security, Supplemental Security Income (SSI), and Social Security Disability Income (SSDI).

Each individual receives their Social Security check on Wednesday depending on their birthdate. The majority of elderly people can apply for Social Security payments as soon as they reach 62. The $1,657 stimulus checks are solely for Social Security holders; everyone else is not eligible. Later in the article, The Sun newspaper refers to that, but not in the false headline. The checks themselves are not brand-new though; recipients receive a cost-of-living boost in their monthly benefits payments.

New SSI Stimulus Check Being Sent Out

- Advertisement -

When someone retires or becomes disabled, Social Security pays them an income. Social Security payments for retired people can be started as early as age 62.

According to the Social Security Administration’s (SSA) website, an increase in the cost of living in 2022 will result in a 5.9% increase in Social Security and Supplemental Security Income (SSI) payments for roughly 70 million Americans. The bulk of Social Security recipients started receiving cost-of-living adjustments (COLAs) in January 2022, and the average payout for all retired employees is currently $1,657.

Rep. Terri Sewell (D-AL), a member of the House Ways and Means Committee’s Subcommittee on Social Security, said in a press meeting about the 5.9% increase that the Social Security Act links the annual COLA to the rise in the Consumer Price Index, the most commonly used indicator of inflation that the U.S. Bureau of Labor Statistics determines.

- Advertisement -

Follow Us

16,985FansLike
4,865FollowersFollow
1,643FollowersFollow

Latest news