It looks like retirees will get a pay rise next year.
The Senior Citizens League is a nonpartisan advocacy organization for older Americans and has a history of accurately forecasting annual cost of living adjustments. The group estimates that Social Security’s COLA could reach 6.2% by 2022.
The boost would be much higher than the 1.3% change for 2021, which was one of the lowest increases Social Security has ever seen.
Watch this video to see how much money this will add to your benefits and how the increase compares to other changes in the past.
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