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COLA: Social Security recipients need more money

Seniors who collect Social Security want an extra $200 with their monthly benefits as they fear the 5.9% COLA increase isn’t enough.

Social security cards piled with cash representing the COLA increase

The 5.9% increase is the largest increase in almost 40 years.

The Social Security Administration announced the COLA increase in Oct. 2021, but it didn’t go in effect until Jan. 2022.

At this point, inflation has increased well beyond that 5.9% COLA increase that recipients are seeing for the first time this month.

Finger Lakes Partners (Billboard)

Average checks will rise from $1,565 in 2021 to $1,657 in 2022.

Married couples average checks will rise from $2,599 to $2,753 each month.

Americans have voiced their frustrations on Twitter, feeling that the increase is not enough to live off of.

Finger Lakes Partners (Billboard)

Related: Medicare increases will impact low earners

Related: SSI payment dates each month in 2022

SSDI received COLA increase as well

Any collecting SSDI will see the 5.9% in their monthly checks as well.

The average check will rise from $1,282 to $1,358.

SSDI is for individuals who have disabilities that no longer allow them to work or hinder the capacity at which they can work.

Social Security payments are sent on the second, third, and fourth Wednesday of every month depending on what day a recipient’s birthday is.

COLA notices detailing personal accounts and increases were mailed in Dec. of 2021.

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