Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Retirees Will Get The Largest Social Security Payment Increase In Decades – Due to the Biden Inflation

by December 16, 2022
December 16, 2022
Retirees Will Get The Largest Social Security Payment Increase In Decades – Due to the Biden Inflation

Retirees are getting the largest increase in Social Security payments in decades.

Back in October, Social Security announced an 8.7% cost of living adjustment – this is to deal with the rising inflation during the Biden administration.

The New York Times reported:

Social Security on Thursday announced an 8.7 percent cost of living adjustment for retirees, the largest inflation adjustment to benefits in four decades — a welcome development for millions of older Americans struggling to keep up with fast-rising living costs.

The cost-of-living adjustment for 2023, which will be applied to benefits in January, is based on the latest government inflation figures. The final COLA, as the adjustment is known, was released after the Labor Department announced the Consumer Price Index for September, which came in at 8.2 percent. Medicare enrollees can anticipate some additional good news: The standard Part B premium, which is typically deducted from Social Security benefits, will decline next year.

The COLA, one of Social Security’s most valuable features, will give a significant boost to about 70 million Americans next year. While retirement comes to mind when most people think about Social Security‌, the program plays a much broader role in providing economic security.

The increase is now coming.

The payments will be rolled out based on the beneficiaries’ birthdays.

The Hill reported:

People who receive Supplemental Security Income (SSI), will receive two payments in December this year. Since the last day of December is a Saturday, the SSA wants to make sure people who depend on the checks, which are usually paid on the 1st of each month, aren’t forced to wait until the first business day in January.

…

As for Social Security recipients, not everyone will see the higher payments hit their bank accounts at the same time.

The SSA rolls out payments based on beneficiaries’ birthdays.

If you were born between the 1st and 10th day of the month, you’ll receive your check on the second Wednesday of each month. If your birthday falls between the 11th and the 20th, you’ll receive it on the third Wednesday. Any other date and you’ll receive your check on the fourth Wednesday of the month.

Meanwhile, the Biden administration is failing to stop rising inflation. 

Inflation is still at its highest level since the early 1980s.

For the antidote to media bias, check out ProTrumpNews.com…

The post Retirees Will Get The Largest Social Security Payment Increase In Decades – Due to the Biden Inflation appeared first on The Gateway Pundit.

0
FacebookTwitterGoogle +Pinterest
previous post
AOC Jumps into Twitter War with Elon Musk for Protecting His Family – Calls Him a Fascist
next post
CNN Threatens to Quit Twitter After Employee Is Banned for Doxxing Elon Musk and Endangering His Young Son

You may also like

Americans have clear opinions on Trump’s performance in...

March 10, 2025

Dems weaponize Medicaid anxiety in bid to take...

March 10, 2025

Republicans weigh rules change to avoid House floor...

October 10, 2023

Biden tries to flip the script on negative...

July 1, 2024

Alaska lawmakers pass spending package, ending special session...

May 20, 2023

Andrew Cuomo blasts far left Dems for being...

April 16, 2023

National security experts warn against ‘chaos’ of US...

July 23, 2024

UK Prime Minister puts US officials on blast...

October 19, 2023

Biden says wrong day at January 6 ceremony...

January 6, 2023

Trump says he wasn’t ‘trolling’ about acquiring Greenland,...

April 25, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,567)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved