LATEST UPDATES ON SOCIAL SECURITY IN THE UNITED STATES: NEW INCREASES AND PAYMENT SCHEDULE UNTIL 2026. AS OF 2022, THE SOCIAL SECURITY ADMINISTRATION (SSA) HAS ANNOUNCED A 5.9% COST-OF-LIVING ADJUSTMENT (COLA) FOR 2022, WHICH WILL INCREASE THE AVERAGE MONTHLY BENEFIT FOR RETIRED WORKERS BY $92. THE COLA IS BASED ON THE CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS (CPI-W), WHICH MEASURES THE AVERAGE CHANGE IN PRICES OF GOODS AND SERVICES. THE COLA WILL BE APPLIED TO BENEFITS STARTING IN JANUARY 2022. FOR 2023, THE SSA HAS ANNOUNCED A 8.7% COLA, WHICH WILL INCREASE THE AVERAGE MONTHLY BENEFIT BY $137. FOR 2024, THE SSA HAS ANNOUNCED A 6.1% COLA, WHICH WILL INCREASE THE AVERAGE MONTHLY BENEFIT BY $93. FOR 2025, THE SSA HAS ANNOUNCED A 4.8% COLA, WHICH WILL INCREASE THE AVERAGE MONTHLY BENEFIT BY $74. FOR 2026, THE SSA HAS ANNOUNCED A 3.8% COLA, WHICH WILL INCREASE THE AVERAGE MONTHLY BENEFIT BY $63. THE PAYMENT SCHEDULE FOR SOCIAL SECURITY BENEFITS IN THE UNITED STATES IS AS FOLLOWS: - JANUARY 12TH: BENEFITS ARE PAID TO RECIPIENTS - MARCH 12TH: BENEFITS ARE PAID TO RECIPIENTS - MAY 12TH: BENEFITS ARE PAID TO RECIPIENTS - JULY 12TH: BENEFITS ARE PAID TO RECIPIENTS - OCTOBER 12TH: BENEFITS ARE PAID TO RECIPIENTS - DECEMBER 29TH: BENEFITS ARE PAID TO RECIPIENTS
✍️ The Social Security Administration (SSA) is expected to announce the increase in the Cost of Living Adjustment (COLA) for 2026, which is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
👉 The SSA will announce the increase in COLA for 2026
👉 The increase is expected to be around 2.7%
👉 The COLA is based on the CPI-W, which will be published on October 24
👉 The Senior Citizens League estimates the increase will be $54 per month
👉 The increase in COLA varies by state, depending on factors such as the number of years worked and age of retirement
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