For years, Social Security recipients have complained that their yearly cost-of-living increases, or COLAs, have been inadequate. Seniors were, on the other hand, in for a pleasant stimulus check surprise this year.
Last October, it was revealed that seniors will receive a 5.9 percent COLA for 2022, the largest increase in decades. And many US senior citizens were able to exhale a sigh of relief as a result of that news.
Since January 13, Social Security COLA Stimulus Check payments have been distributed. Beneficiaries have begun to get them to fight the catastrophe caused by the COVID-19 outbreak.
Stimulus Check Will Be Delivered By The First Week Of Each Month
COLA Stimulus Check payments should be mailed to all those born during the first 10 days of any month (or have already received them).
Workers will get a monthly check that will rise from $1,565 to $1,657. Remember that a rise in salary is tied to an increase in the consumer price index – inflation – as measured by the United States Bureau of Labor Statistics.
Individuals born between January 11 and January 20 will be eligible for benefits on the third Wednesday of the month.
Those with birthdays between the 21st and 31st of the month will also get paid on the fourth Wednesday of the month.
Throughout December, the Social Security Administration (SSA) distributed COLA Stimulus Check notices to retirement, survivor, and disabled recipients. The monthly stipend for SSI beneficiaries will rise from $794 to around $841. They will also be sent letters outlining the reason for the hike.
Divorced pensioners and their ex-spouses are also entitled to supplementary benefits. If your ex-spouse is entitled to retirement benefits, the SSA will pay that sum first.