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Social Security: Who gets checks up to $1,657 today?

Ssocial security payments increased after the new cost of living adjustment (COLA) was announced. It saw checks soar to $1,657 per month in 2022, up $92 from the previous year.

It should be noted that the COLA was increased by 5.9% due to Consumer Price Index data, with the average monthly fee increasing from $2,599 to $2,753 for couples and the maximum amount available being $4,194.

“Based on the increase in the Consumer Price Index (CPI-W) from Q3 2020 to Q3 2021, Social Security and Supplemental Security Income (SSI) recipients will receive a COLA of 5.9% for 2022,” the government statement read.

Who gets checks up to $1,657 today, May 25?

With Social Security payments sent based on your date of birth, this Wednesday’s checks will be sent to people whose date of birth falls between the 21st and 31st of the month.

In the meantime, the next payment will be made on the second Wednesday of June, when retirees born on the 1st and 10th of the month receive their checks.

As for people born between the 11th and the 20th, they will receive their payment on June 15, the third Wednesday of the month.

Pensioners can receive benefits from age 62, but the fee will be reduced by 30% if they choose to do so. They also have the option of starting to receive them until age 70, but it cannot be delayed any longer than that.

The Effect of Inflation on Social Security Payments

In March, the COLA climbed 8.5%, mainly because of the conflict between Russia and Ukraine, but also because supply and demand are not aligned.

These two things forced the Social Security Administration to increase the benefits seniors receive monthly by an average of $100.