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There are 4 major changes every year to Social Security, they may impact you

The way Social Security benefits work may change occasionally, but there are four changes every year that happen annually.

Millions of people rely on Social Security to survive, so it’s important to be aware of any changes that may impact your life.

9 out of 10 people over the age of 65 receive Social Security benefits.


Here are four things you need to be aware of every year when it comes to Social Security benefit changes

The COLA adjustment happens every year to keep up with inflation.

Sometime there is no increase at all, but it will always be adjusted to match inflation and never go down.

This Jan. seniors can expect a 5.9% increase, the highest increase in almost 40 years.

Checks will go up by about $92 per person.

Related: How do I get an unrestricted Social Security card and what are they for?


The COLA adjustment is calculated using the Consumer Price Index for Urban Wage Earners and Clerical Workers every year.

This determines whether the COLA will be raised and by how much.

The earnings test limit changes every year.

If you choose to still work while collecting benefits, your benefits may be reduced depending on what you earn.

During 2021, if your income was over $18,960, you had $1 withheld for every $2 you earned over that limit if you were below full retirement age.

Related: When will COLA go into effect for 2022? How to calculate your Social Security benefits


This threshold will rise in 2022 to $19,560.

The limits are higher for individuals that have reached their full retirement age.

In 2022 for those at full retirement age, they can earn up to $51,960 per year.

Past that point, the SSA with withhold $1 for every $3 earned.

The value of work credit rises every year.

To qualify for Social Security benefits, you must earn 40 credits throughout your working life.

Related: Here are 4 of the biggest changes for Social Security that happened in 2021


You can earn a maximum of 4 per year, and credits in 2022 will be worth $1,510. In 2021 they’re worth $1,470.

The Social Security tax limit is the fourth thing that changes every year.

In 2021 the taxable income limit is $142,800. In 2022 it will be $147,000.

This means for high wage earners they need to pay Social Security tax for the first $147,000, and beyond that their wages are untaxed.

The rate of tax has remained 6.2% since 1990.



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