Social Security recipients to benefit from boost in COLA
Published: Oct. 18, 2021 at 5:29 PM EDT
BURLINGTON, Vt. (WCAX) - By January, Social Security beneficiaries will see the biggest jump in their monthly checks in the last 40 years.
The Cost of Living Adjustment, or COLA, will increase by 5.9% in 2022. With the increase, the estimated average Social Security payment for a retired worker will be $1,657 a month next year. A typical couple’s benefits would rise by $154 to $2,753 per month.
Dom Amato spoke with Max Richtman, the president of the National Committee to Preserve Social Security and Medicare, about the change and what else the organization is lobbying for in Washington.
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