Earlier this month, the Social Security Administration published the schedule of Social Security payments for the year 2022. These payments will be the first to incorporate the new 5.9 percent cost-of-living increase, which will take effect on January 1, 2019. (COLA).
In the case of a birth date that falls between the 1st and 10th of the month, your benefits will be paid out on the second Wednesday of the month. It shows that benefits will be paid on January 12, 2022, for the first payment in January of the following year.
The third Wednesday of each month will be paid if your birthday falls between the 11th and the 20th of the month. If your birthday falls between the 11th and the 20th of the month, benefits will be paid on the third Wednesday of each month. The first payment for January will be made on January 19, 2022, which is a Monday.
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If your birthday falls on the 21st of the month through the 31st of the month, benefits will be paid on the fourth Wednesday of each month unless otherwise specified. This translates into a benefit payment on January 26, 2022, for the first payment in January.
Here is a link to the Social Security Administration’s schedule, which contains the complete schedule of benefit payments for next year. These payments will include the greatest cost-of-living adjustment (COLA) increase in over 40 years, which will be paid in an attempt to hedge against excessive inflation, which has been running at 6.2 percent over the last 12 months.
If you believe that your Social Security benefit check is insufficient to cover your monthly expenses, you may be eligible to apply for Social Security Supplement Income, which is an additional benefit paid on top of your monthly benefit check.
