The fourth batch of Social Security benefits is about to be distributed. In 2022, the cost-of-living adjustment (COLA) for almost 64 million Social Security beneficiaries increased to 5.9%, the highest increase in nearly 40 years.
For Social Security recipients, the rise took effect on January 1st, while for Supplemental Security Income (SSI) recipients, it took effect on December 30th.
The considerable increase in the COLA for Social Security is due to rising inflation. In February 2022, the annual inflation rate in the United States surged to 7.9%, and the rising pressure on consumer prices is unlikely to abate anytime soon.
The following is the Social Security schedule for April:
- Your money is delivered on Wednesday, April 13 if your birthday falls between the 1st and 10th of the month.
- If you were born between the 11th and the 20th of April, your reward will be distributed on Wednesday, April 20.
- If your birthday falls between the 21st and the 31st of April, you will receive your payout on Wednesday, April 27.
If your Social Security benefits are insufficient to meet your basic requirements, you may be eligible for Supplemental Security Income (SSI).
The Supplemental Security Income (SSI) programme provides monthly payments to adults and children with disabilities (particularly, blindness) who meet certain financial criteria.
SSI is also offered to people aged 65 and up with limited income and financial resources.
If you received Social Security before May 1997, or if you receive both Social Security and SSI, your Social Security and SSI payments will be combined on April 1. On April 29, a second SSI payment will be made.
Do you have questions about your benefit payments or Social Security statements? You can use mySocialSecurity to check the status of an application, predict future benefits, manage benefits you already have, and more.