The COLA adjustment for 2022 is one of the highest raises for Social Security payments in recent years.
This has made it so anyone receiving benefits from the Social Security Administration sees an increase to their monthly payment.
Benefits are paid once per month to over 67 million people.
72% of payments go to retired workers collecting their retirement benefits.
Who can see $2,753 per month in Social Security payments?
Out of that 72% collecting retirement benefits, those who are couples collecting them will see the average $2,753.
Individuals collecting benefits see an average of $1,657 per month.
This is the average, there are some who collect more or less depending on various factors, like age of retirement.
Some people who wait until their full retirement age of 67 can see as much as $3,345 if they get the maximum.
The maximum for those who retire at 62 can see $2,364.
These numbers are higher in 2022 by 5.9%.