Retirees Likely to Receive Significant Bump in Social Security Benefits in 2022

finance.yahoo.com
2 min read
standard
The cost-of-living adjustment for Social Security benefits for next year is expected to be the largest since 1982.
Concept art showing Social Security cards on top of a stack of cash. Getty Images

After several years of tepid cost-of-living increases, seniors are likely to get a significant raise in their Social Security benefits in 2022.

The Kiplinger Letter is forecasting that the annual cost-of-living adjustment for Social Security benefits for 2022 will be 6%, the biggest jump since 1982, when benefits rose 7.4%. That would also be slightly lower than The Kiplinger Letter predicted in July.

The final adjustment announced on Oct. 13 could be a…
David Payne, Staff Economist
Read full article