Social Security Benefits to Rise 5.9% in 2022, Most in Four Decades

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The increase, a cost-of-living adjustment that applies to about 70 million Americans, comes as consumer prices have jumped sharply.

Benefits from Social Security, which tens of millions of retired Americans rely on to pay their bills, will increase by 5.9 percent in 2022, the Social Security Administration said on Wednesday. It is the biggest boost in 40 years as prices for food, cars, and rent keep climbing.

The increase, known as a cost of living adjustment, is the largest since 1982, when the adjustment was 7.4 percent, according to data from the administration. The average benefit — 70 million Americans receive them — would climb to $1,657 a month, up to $92 from this year.

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Social Security Benefits to Rise 5.9% in 2022, Most in Four Decades first appeared in New York Times… Read on

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