Social Security benefits to increase by almost 6% in 2022
Social Security benefits for approximately 70 million Americans will increase 5.9% next year, the Social Security Administration announced Wednesday.
The big picture: The increased payments will begin for more than 64 million Social Security beneficiaries in January 2022.
- Increased payments to approximately 8 million people on Supplemental Security Income will start Dec. 30, 2021, the SSA said. Some Americans receive both benefits.