It is anticipated that the next batch of Social Security checks will be sent somewhere around the beginning of May. In 2022, the cost-of-living adjustment (COLA) for almost 64 million Social Security recipients is expected to increase by 5.9 percent, which is the highest percentage increase in over 40 years.
This increase became effective on January 1 for beneficiaries of Social Security, and it will become effective on December 30, 2021, for beneficiaries of Supplemental Security Income.
The cost of living adjustment (COLA) adjustments are often not very big; nevertheless, the annual inflation rate in the United States is on the rise and has recently reached a new high of 8.5 percent. This rate may continue to grow.
The following is the schedule for Social Security for the month of May:
- If your birthday falls between the 1st and 10th of the month, the money for your payment will be sent to you on the 11th of May.
- If your birthday falls between the 11th and 20th, the money for your payment will be sent to you on the 18th of May.
- On Wednesday, May 25, you will get your money if your birthday falls between the 21st and 31st of this month.
On this page of the schedule maintained by the Social Security Administration, you can find detailed information on the payment of benefits in 2022.
If your monthly Social Security payments aren’t enough to meet your essential costs, you could be eligible for Supplemental Security Income (SSI).
Adults and children who are legally blind or have another qualifying handicap are eligible to receive monthly benefits from the Supplemental Security Income (SSI) program.
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Individuals aged 65 and older who are economically disadvantaged and have a low income are also eligible for SSI benefits.
If you started receiving Social Security benefits before May 1997 or if you are receiving both Social Security and SSI, your first payment of Social Security benefits will be issued on May 3.
By creating a My Social Security account on this page, you will have the ability to quickly check on your benefit payments and Social Security statements.