Social Security Schedule: When the First COLA Checks Arrive in January 2022 – Community News
Social Security

Social Security Schedule: When the First COLA Checks Arrive in January 2022

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The Social Security Administration has released the schedule of Social Security payments for 2022. These payments will be the first to include the new 5.9% adjustment to the cost of living (COLA).

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If your date of birth falls on the 1st of the month to the 10th of the month, your benefit will be paid on the second Wednesday of the month. For the first payment of January, this means that the benefit will be paid on January 12, 2022.

If your date of birth falls on the 11th of the month to the 20th of the month, the benefit will be paid on the third Wednesday of each month. For the first January payment, it falls on January 19, 2022.

If your date of birth falls on the 21st of the month to the 31st of the month, the benefit will be paid on the fourth Wednesday of each month. For the first payment in January, this equates to a payment on January 26, 2022.

The full schedule of next year’s benefits can be found on the Social Security Administration’s schedule here. These payments include the largest COLA update in nearly 40 years, provided in an effort to hedge runaway inflation which is currently at 6.2% over the past 12 months.

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If you feel that your Social Security benefit is not enough to cover your monthly expenses, it is possible to apply for Social Security Supplemental Income, which may be an additional benefit paid on top of your monthly check.

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Georgina Tzanetos is a former financial advisor who studied post-industrial capitalist structures at New York University. She has eight years of experience in concentrations in asset management, portfolio management, private client banking and investment research. Georgina has written for Investopedia and WallStreetMojo.