Seniors and other Americans receiving Social Security benefits in 2022 are likely to see the largest increase in their payments in decades, reflecting surging inflation during the pandemic.
The Social Security Administration on Wednesday is scheduled to release its annual cost-of-living adjustment for the benefits. Analysts expect the adjustment to be a roughly 6% boost, which would translate to an addition of nearly $93 to retirees’ current average monthly benefit of $1,543.
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Source:" WSJ "