pPeople who receive Supplemental Security Income will soon be sent the first of two payments, which will be a combined total of $1,682 for most recipients.
Those who qualify will receive their first payment of $841 on September 1, while the second payment worth the same amount will be on September 30, according to the Social Security Administration.
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September is one of three months in 2022 in which people will receive two additional security incomes, the other being April and December. The duplicate payments offset the months when no payment is sent, namely January, May, and October, so eligible recipients receive 12 payments per year on the schedule.
According to analysts, Social Security benefits are likely to rise in 2023 as a result of rising inflation. However, some people may end up earning less than they currently receive if the increase in payments puts them in a higher tax bracket.
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Unless Congress takes action, it is estimated based on the current percentage that Social Security will not be able to pay out in full by 2035, according to Nexstar Media Wire.