Social Security Payments To Increase 5.9%

spot_img

American seniors are getting a pay raise.

The cost of living adjustment for social security checks (COLA) is increasing by 5.9%, the Social Security Administration said Wednesday. The average monthly benefit will increase by an estimation $92 per month, bringing the average monthly amount to $1,657.

- Advertisement -

The 5.9% increase is the largest cost of living adjustment since 1982. It comes amid increasing inflation. The labor department reported Wednesday that the prices consumers pay for goods rose again in September, up 5.4%. This is the largest annual gain since 2008.

While the 5.9% increase is certainly welcomed, whether or not retirees feel the benefit from it largely depends on how much inflation continues to rise in the coming months. In other words, if inflation gains more momentum, the 5.9% increase could be less meaningful in real terms.

SUBSCRIBE TO MY FREE NEWSLETTER

Liberals want to destroy America. Their radical agenda will pack our courts, change the voting laws, and take away our constitutional freedoms. That's why is important to Join My Newsletter and get the news directly from me.

Related Articles

Stay Connected

137,091FansLike
692,135FollowersFollow
28,025SubscribersSubscribe
spot_img

Latest Articles

TRISH REGAN NEWSLETTER

Liberals want to destroy America. Their radical agenda will pack our courts, change the voting laws, and take away our constitutional freedoms. That's why is important to Join My Newsletter and get the news directly from me.

- Advertisement -spot_img
Get The Full Story From Me

Conservative Media is under attack from Big Tech. Please join my 100% FREE NEWSLETTER.

  • Trish Intel
  • Trish Regan
  • https://chrt.fm/track/23284G/traffic.omny.fm/d/clips/5e27a451-e6e6-4c51-aa03-a7370003783c/d93acfd6-a015-4c06-8697-ad42013d1e7d/49545bfe-628b-4a13-ba21-adc201866d9e/audio.mp3