![]() ![]() ![]() For 2022, payments are not made in January, May, and October because the first days of those months were on a holiday or a weekend.ĬLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER The double payments offset the months in which no payments are sent out to ensure eligible recipients receive 12 payments a year, according to the SSA schedule. ![]() Essential persons, meaning people who live with a person receiving SSI and provide necessary care, will receive two payments of $421 to be paid out on the same days. SOCIAL SECURITY PAYMENT 2022: SECOND HALF OF MONTHLY $1,682 CHECKS TO BE SENT IN JUST WEEKSĮligible couples will have two payments of $1,261 during September. September is one of three months in the year in which there are two SSI payments, with the other two months being April and December. 30, equaling a monthly total of $1,682 after receiving another payment at the beginning of the month, according to the Social Security Administration. This suggests that a higher proportion of adults on fixed incomes have turned to these programs to supplement their Social Security and Medicare benefits as prices have risen due to the pandemic and inflation.Recipients of Supplemental Security Income are set to receive their second of two September payments in 17 days.Įligible recipients can expect their payment of $841 on Sept. According to Census data, 16% of seniors were receiving needs-based assistance prior to the pandemic. About 37% of seniors who participated in the group's survey in 2021 indicated that they had received assistance from low-income people's programs. ![]() The average senior receives a monthly benefit of about $1,656 for the current year, which is about $58 less than the average.Īccording to her, this may be encouraging more seniors to rely on government assistance programs. According to Johnson, she expects the COLA to be between 9.3% and 10.1%, with 9.6% being the most likely estimate given the most recent data. Of course, there are still two more months of data to come, and depending on the trajectory of inflation in August and September, the Social Security COLA may end up being higher or lower. The Labor Department reported on Wednesday that the CPI-W increased by 9.1% in July. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), a basket of goods and services that are typically purchased by workers, is the index that the Social Security Administration bases its annual benefits adjustment on. The Social Security Administration anticipates announcing the COLA on October 13 after the publication of the September inflation figures. Seniors might finally receive a break in 2023 and close the benefits gap that many are currently experiencing if inflation continues to decline.Īccording to the nonpartisan organization, a 9.6% increase would result in a monthly gain of about $159 and an annual gain of $1,900 based on the average monthly benefit of $1,656 in 2022.Īs inflation exceeds the Social Security beneficiaries' 5.9% COLA in 2022, a high COLA will be eagerly anticipated to address a continuing shortfall in benefits. Seniors may experience an average monthly increase of 9.6% now that data are available for one of those three months, according to the Senior Citizens League. ![]()
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