The Social Security cost-of-living adjustment or COLA will increase by 5.9% in 2022. That’s the largest increase in almost 40 years. As a result of the COLA, the average social security benefit for retired workers is expected to climb by $92 to $1,657 per month. For married couples who both receive Social Security benefits, the average payment will increase by approximately $154 to $2,753 per month in 2022. There are additional changes coming to Social Security this year, to see them all, visit ssa.gov.
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