TAMPA, Fla. (WFLA) — Injury, disability, retirement. 2022 may be the first time you’re receiving your social security benefits, or possibly getting supplementary security income.
As new recipients wade into the financial system that is social security, big questions become simple. “When am I getting my payments?”
Maybe you aren’t new to SSA or SSI payments. A refresh on the dates and when you can expect to see your payments never hurts. For 2022, here’s when you’ll see the funds.
For those on Social Security
If you have a birthday between the 1st and 10th of the month, you’ll get benefits payments on the second Wednesday of the month.
For birthdays from the 11th to the 20th, expect payments on the third Wednesday.
Finally, for birthdays on the 21st to the 31st, you can expect your benefits on the fourth Wednesday of the month.
You can always check your next payment date by accessing your account online and going to the “Benefits & Payments” section.
For those on Supplementary Security
If you’re not retired yet or haven’t started receiving your Social Security benefits, but still have some assistance coming, payments come on the first of each month.
SSI payments are usually given to individuals 65-years or older who need more than what SSA normally provides. Typically, SSI goes to caregivers for those who need the extra help, such as disabled children or disabled adults.
Getting SSI does not prevent you from also getting normal social security payments when you are retired.
To see if you qualify for extra assistance online with the Benefit Eligibility Screening Tool.
Higher payments than before
Starting in 2022, the amount benefit recipients will be paid each month is increasing.
Social Security beneficiaries will be seeing a 5.9% increase in benefits to account for cost of living adjustments. It’s the highest increase in almost 40 years.
The COLA, as it’s known, is based off the U.S. Bureau of Labor Statistics’ Consumer Price Index.
This year, the CPI hit historic levels of recorded inflation, coming in at 6.8% in November. As a result, recipients will receive around $92 extra per month on average.
According to SSA, beneficiaries will now get $1,657 on average, per month, starting in 2022.
Social Security impacts about about 70 million people nationwide, according to the SSA.