The Social Security Administration has released the schedule of Social Security payments for 2022. These payments will be the first to include the new 5.9% cost-of-living adjustment (COLA).
If your birth date is on the 1st of the month through the 10th of the month, your benefits will be paid on the second Wednesday of the month. For January’s first payment, this means benefits were paid on Jan.12, 2022.
If your birth date is on the 11th of the month through the 20th of the month, benefits will be paid on the third Wednesday of each month. For January’s first payment, this lands on Jan. 19, 2022.
If your birth date is on the 21st of the month through the 31st of the month, benefits will be paid on the fourth Wednesday of each month. For January’s first payment, this equates to a benefit payment on Jan. 26, 2022.
The full schedule of next year’s benefit payments can be found on the Social Security Administration’s schedule here. These payments will include the largest COLA update in almost 40 years, provided in an attempt to hedge runaway inflation that is currently running at 6.2% over the last 12 months.
If you believe your Social Security benefit check is not adequate to supply your monthly expenses, it’s possible to apply for Social Security Supplement Income, which can be an additional benefit paid on top of your monthly check.
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