Do you qualify for social security benefits? The Social Security Administration has released a new calendar that shows when you can expect to receive the checks in 2022, KTLA sister station KTVI reports.
The check will be coming on a different day of the month depending on the beneficiaries’ birthday. This payment schedule has been in effect since June 1997. To see your next payment date access your account and go to the “Benefits & Payments” section.
The SSA shared this statement on the new schedule:
“Any birthdays that fall between the first and the 10th will be paid on the second Wednesday of each month. Those born between the 11th and 20th will be paid on the third Wednesday of the month. And those born between the 21st and 31st will be paid on the fourth Wednesday of the month.”
There are some exceptions to the new schedule. Payments will be sent on the third of each month when:
- You first filed for benefits before May 1997
- You are receiving a Supplemental Security Income (SSI) and Social Security payments
- The state pays for your Medicare premiums
- You live in a foreign country
- For those who receive SSI benefits but do not get Social Security payments, their scheduled payment date will be on the first of each month.
Schedule of 2022 Social Security Benefit Payments
Cost of living adjustments
Millions of Americans on Social Security will soon have more money in their pockets. Retirees will get a 5.9% increase in benefits for 2022. That’s the highest cost-of-living adjustment in nearly 40 years.
The increase in benefits is due to inflation. Prices are very high for items such as food and gas, and supply chain issues continue to drive up the cost of goods.
The cost-of-living adjustment (or COLA, as it’s commonly called) amounts to an added $92 a month for the average retired worker.