Approximately 70 million Americans will see a 5.9% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2022. Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W).
The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are a little more expensive, so the cost-of-living adjustment (COLA) helps to offset these costs.
We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. But, if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your my Social Security account. You can access this information in early December prior to the mailed notice.
If you prefer to access your COLA notice online and not receive the mailed notice, you can log in to your personal my Social Security account to opt out of a mailed COLA notice and any other notices that are available online by updating your Preferences in the Message Center. Did you know you can receive a text or email alert when there is a new message waiting for you? That way, you always know when we have something important for you – like your COLA notice. If you don’t have an account yet, you must create one by November 17, 2021, to receive the 2022 COLA notice online.
January 2022 marks other changes that will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax in 2022 will be higher. The retirement earnings test exempt amount will also change in 2022.
Be among the first to know! Sign up for or log in to your personal my Social Security account today. Choose email or text under “Message Center Preferences” to receive courtesy notifications.
You can find more information about the 2022 COLA here.
Referenced directly from the SSA website by Darlynda Bogle, Acting Deputy Commissioner
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Wednesday, June 16th
Attorney General Office
Did you know…
That roughly one in five citizens in Florida are aged 65 and older?
That Florida has designated legal services and programs for Seniors?
That Senior Consumer Alerts in Florida are focused on protecting Seniors from scams and faulty products directed at Seniors?
Consumer Alerts for Seniors
What exactly is a ‘consumer alert’? We hear the term quite a bit in the news, online, in magazines and on tv warning us about a particular product, service or even company.
It’s important to know exactly what the term means and what recourses become available to you have purchased a product or service that has a consumer alert.
Consumer Alerts are issued to inform the media and public of new methods used to commit fraud, trends in consumer complaints or other deceptive practices used to take advance of Floridians.
Florida Attorney General Ashley Moody issues Consumer Alerts to inform the media and the public of emerging scams, new methods used to commit fraud, trends in consumer complaints, or any other deceptive practices utilized to take advantage of Floridians. Consumer Alerts are designed to help prevent financial loss or other harm caused by scammers. They are also used to notify Floridians about available refunds, restitution and claims funds resulting from action taken by Attorney General Moody’s Consumer Protection Division.
Anyone encountering a scam should report the incident to the Florida Attorney General’s Office by calling 1(866) 9NO-SCAM or by filing a complaint online by clicking the link below: