Get the most out of next month’s social security payment schedule of 2022. The new cost-of-living adjustment (COLA) means that checks are 5.9 percent higher compared to 2021.Millions have already received their first increased payment since Social Security payments are allocated based on birth dates. Claimants born between January 1 and January 10 got their first increased payout on January 12. In 2021, the average monthly payment for retired workers was $1,565, and that rose to $1,657 with the 5.9 percent COLA increase. February’s first batch of SSI checks is on the way to help recipients out with increased funds. The checks being issued in March are being sent out by the SSA in three waves according to the recipient’s birth date, on March 9, 16, or 23.
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