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Social Security Checks Will Be Much Bigger in 2022. That’s Bad News for Retirees

In 2022, Social Security retirees will likely receive a Social Security cost-of-living adjustment (COLA) equal to 6% to 6.1% of their benefits, according to the Senior Citizens League. This is the biggest benefit increase in decades and will leave the average retiree with about $93.20 more in their monthly checks. Compared with the 1.3% COLA retirees received in 2021, a 6% raise sounds like a fortune and could, in theory, have retirees jumping for joy.

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