Social Security recipients concerned they won't see 5.9 percent increase

MOBILE, AL. (WPMI) — Dan Roots, a retiree in Semmes, said other retirees who are living off Social Security without other sources of income are barely making ends meet. He said between taxes and the cost of Medicare there is not much left over. That’s even after the one and two percent annual increases in Social Security benefits.

"The last raise we got it was nice to get it, but Medicare went up also,” Roots said.

This week, the federal government announced that Social Security checks will see a 5.9 percent increase in 2022. That means an extra $92 a month. It’s the highest increase of Cost-of-Living Adjustment since 1982. Financial experts said the increase in Social Security is due to inflation. Just in the last 12 months, U.S. wholesale prices including food and gas jumped nearly 9 percent.

James Hinton, who also receives Social Security, said it’s time for the government to reform it.

"Now, there are many people retiring, and they haven't upgraded the takeout, the amount of deductions they take to accommodate that," Hinton said.

"The moneys that went into Social Security, I put it in while working and my company put in their share also. But the government thinks it's theirs," Roots said.

Hinton had this advice for the working class.

“Get a plan to put always some money for the rainy day, because the rainy day is coming,” Hinton said.