Social Security COLA in 2022: How much more money you will see in your benefits every month
Social Security COLA in 2022: How much more money you will see in your benefits every month
ocial Security beneficiaries will see a 5.9% increase to their monthly checks in 2022. Here’s what that means for your check. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Social Security beneficiaries will see a 5.9% increase to their monthly checks in 2022.
That’s much more than the 1.3% adjustment made for 2021, and the largest increase since a 7.4% boost in 1980s.
Check out this video to see how much money this will add to your benefits and to see more about how the increase compares with other changes in the past.
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
In Oklahoma from what I seen, it was 57.oo not 200.00 not 100.00, but this little help. Not as much as I was hoping for 200.00 but grateful. I still can’t get no help with prescription drug/ dental/ no help with nothing, I was told by one the Brown sister who work at dhs in tulsa. In front of my witness ( you’re getting all you going to get.) She was very hateful about what she said, I look at my witness, he look at me hunk his shoulder/ and said let go, as we walk/ talk he said she didn’t have to be so mean about it…
Is it just me or this big cost-of-living adjustment they give us isn’t equaling out when gas is $5 a gallon and meats going up to $10 a pound and extra $93 is supposed to help when we was struggling before
That’s not true
Increase my ass, it’s a ruse. They are increasing SS but the cost of medicare part B is going up to $170.00 Some peoples increase won’t even cover the rise in medicare part B.
The medical premium also going to go up, gas ⛽️, food, utilities, you won’t see that money 💰
WHAT’S SO FUNNY ABOUT ALL THESE DIFFERENT REPORTS ON YOUTUBE IS IT RIGHT NOW 80% OF THEM ARE MORE THAN A MONTH OLD IN POSTING TIME.. WHAT’S SO AMAZING IS IT THE FEDERAL GOVERNMENT STATE GOVERNMENT EVEN LOCAL GOVERNMENT WILL GIVE MORE MONEY TO BUSINESSES OR INDIVIDUALS WHO DON’T NECESSARILY NEED IT.. BUT FORGET AND DISMISS OVER 45 MILLION PEOPLE IN THE UNITED STATES WHO ARE COMPLETELY PHYSICALLY DISABLED AND FROM ONE FORM OR ANOTHER.. AND NOT GIVE THEM ANYTHING MORE THAN 3,200 IN THE LAST 18 MONTHS?? YES I UNDERSTAND FINANCES I UNDERSTAND MONEY AND HOW TO USE IT HOW TO KEEP IT.. AND YET ON AN SSDI INCOME OF UNDER $1,100 A MONTH OR LESS.. HAVING TO PAY ALL THOSE NORMAL BILLS THAT EVERYONE ELSE HAS TO PAY SOMETIMES TO THE EXTREME BECAUSE OF ONE’S DISABILITY AND THE FACT THAT THEY ARE USING OR GETTING OR RECEIVING SSDI.. SO LET’S SPELL IT OUT.. WHERE DOES LESS THAN $1,100 A MONTH GO.. OKAY NUMBER ONE THERE’S RENT OR MORTGAGE, POSSIBLY CONDOMINIUM DUES WHICH ARE LIKE TAXES YOU CAN’T DELAY THEM AND YOU CAN’T GET RID OF THEM.. AND THEN THERE’S PROPERTY TAXES ON THE PLACE IN WHICH YOU LIVE.. NOW ON AN INCOME OF LET’S SAY ROUNDED UP TO $1,200 A MONTH YOU’VE JUST SPENT SOMEWHERE BETWEEN $400 A MONTH AND AS MUCH AS $900 A MONTH FOR THAT MORTGAGE OR TO RENT THAT PROPERTY.. THE NEXT BIG THING IS A LIST BUT NEITHER HAS PRIORITY OVER THE OTHER.. INSURANCE COSTS.. UNFORESEEN MEDICAL COSTS.. AMONGST ALL OF THIS YOU COULD ALSO ADD TO IT POSSIBLE PROPERTY TAXES WHICH IN THE UNITED STATES LET’S SAY PICK A CITY.. IF YOU OWN A CONDO A SINGLE FAMILY HOME OR EVEN A SINGLE OWNER IN A FOUR FAMILY AND A FAMILY OR A 16 FAMILY AND YOUR PROPERTY IS VALUED AROUND LET’S SAY $60,000 BY $60,000 BECAUSE THERE ARE OODLES OF PROPERTIES IN THE UNITED STATES FOR AROUND THAT PRICE IN ANYBODY WHO’S LIVING ON LESS THAN $12,000 A YEAR OR $15,000 A YEAR IF THEY WANT TO OWN A HOME THAT’S ABOUT ALL THEY COULD EVER POSSIBLY AFFORD AND THAT’S WITH A DOWN PAYMENT INITIALLY BECAUSE YOU’RE ON SSDI MOST BANKS WILL TELL YOU YOU NEED AT LEAST 35% OF THAT DOWN AND YOUR INTEREST RATE WOULD BE LET’S SAY TWICE THE AVERAGE FOR SOMEONE WITH VERY GOOD OR EXCELLENT CREDIT MAYBE EVEN THREE TIMES THE PRICE WHY.. BECAUSE YOU’RE TRYING TO EXIST ON SSDI AND YOU’RE ALWAYS LOOKED AT AS A CREDIT RISK BECAUSE OF THAT INCOME WHETHER YOU’RE WORKING OR NOT.. AND THEN THERE ARE THE UTILITY COSTS SUCH AS NATURAL GAS ELECTRICITY OR OIL TO HEAT YOUR HOME DURING THE 6TH TO 7 MONTH PERIOD WHERE YOU COULD NEVER EXIST OUTSIDE YOUR HOME WITHOUT ANY SHELTER.. THOSE COSTS LET’S SAY FOR A 600 FT CONDOMINIUM AND LET’S SAY YOU HEAT WITH ELECTRICITY ONLY AND MOST LIKELY IT’S BASEBOARD HEAT THAT WILL COST YOU SOMEWHERE BETWEEN RIGHT NOW IN TODAY’S MONEY $300 TO $400 PER MONTH ON THE COLDEST DAYS.. AND THEN THERE’S FOOD WELL YOU MIGHT GET SNAP OR AS SOME CALLED FOODSHARE OR FOOD STAMPS AND NORMALLY YOU WOULD RECEIVE PROBABLY SOMEWHERE AROUND $36 A MONTH IF YOU’RE SINGLE OVER THE AGE OF 25 NO DEPENDENTS OF ANY KIND AND THEN THERE’S THE COST OF ALL THE OTHER INCIDENTALS WITHIN YOUR LIFE THAT YOU LIKE EVERYONE ELSE HAVE TO SAVE A VERY LONG TIME FOR YOUR CHOICES ARE SLIM AND YOU WONDER IF YOU’RE EVER GOING TO GET ENOUGH CASH TOGETHER TO BE ABLE TO BUY A WORKING 32-IN FLAT SCREEN TV AND POSSIBLY IF YOU’RE REALLY LUCKY A 5.1 CHANNEL SURROUND SOUND AUDIO SYSTEM NOW THOSE TWO ITEMS AS DESCRIBED TOGETHER BOUGHT AT THE SAME TIME WILL PROBABLY RUN YOU SOMEWHERE BETWEEN 800 TO 1500 FOR SOMETHING THAT SOUNDS REALLY GOOD.. AND THEN THERE’S FURNITURE AND THE UPKEEP OF THAT FURNITURE YOUR REFRIGERATOR YOUR STOVE YOUR MICROWAVE YOUR COFFEE MAKER AND ANY OTHER COOKING DEVICE YOU MIGHT OWN OR HAVE A DEFINITE NEED IN ORDER TO CREATE AND PREPARE AND COOK YOUR MEALS.. NOW ADD UP THE EXPENSES THAT I MENTIONED IN THIS POST AND YOU’LL COME UP WITH A NUMBER.. HOW ON GOD’S EARTH LIVING IN THE UNITED STATES OF AMERICA A DEMOCRACY WHICH EXISTED FOR CLOSE TO 250 YEARS.. TREAT PEOPLE SO POORLY WHO ARE ON THE BOTTOM HALF OF THE FINANCIAL LADDER IN THE UNITED STATES AND NOT GIVE THEM WHAT YOU MIGHT CONSIDER A PERMANENT LEG UP ONCE IN THEIR LIFETIME SO THAT THEY CAN HAVE AND SHARE THEIR EXISTENCE LIKE EVERYONE ELSE IN SOME IDEA OR MODICUM OF COMFORT… THIS IS THE ULTIMATE IDEAL OF ANY CITIZEN OF THE UNITED STATES WHETHER YOU’VE WORKED 40 YEARS OF YOUR LIFE HARD LABOR OR AT A DESK OFFICE JOB OF SOME KIND AND WHEN IT COMES TIME IF YOU’RE LUCKY YOU’LL HAVE ENOUGH TO MAKE SURE THAT THESE THINGS ARE AVAILABLE TO YOU DURING THOSE GOLDEN YEARS.. PEOPLE WITH PHYSICAL DISABILITIES THAT DON’T ALLOW THEM TO WORK IN ANY CONCEIVABLE FASHION SOLELY BECAUSE OF THEIR DISABILITIES SHOULD NOT BE PENALIZED FINANCIALLY IN ANY WAY SHAPE OR FORM.. IF YOU WANT TO SEE AN EXAMPLE OF SOMEONE WHO IS PHYSICALLY DISABLED UNABLE TO PERFORM ANY SORT OF FINANCIAL GAIN AND TALK TO THEM ABOUT THEIR EXISTENCE AND THE NUMBERS IN THIS POST TO SEE WHAT THEY’LL TELL YOU OF WHAT THEIR COST OF LIFE IS.. I WAS UNDER ALWAYS THE IDEAL FROM THE TIME I WAS A CHILD THAT THE UNITED STATES OF AMERICA WOULD TAKE CARE OF THEIR ELDERLY THEY’RE SENIORS THEY’RE DISABLED POPULATION TO A CERTAIN STANDARD WHICH WILL ALLOW THEM TO SURVIVE IN SOME IDEAL OF COMFORT.. AND THAT DOES NOT SEEM TO BE HAPPENING AT LEAST IN THE LAST 50 YEARS THAT I’VE BEEN WORKING WITH PEOPLE WHO ARE ON SSI SSDI BENEFICIARY INCOMES.. WHY ARE THEY ALWAYS THE LAST TO GET THE SMALLEST CRUMBS ON A PLATE THAT HAS BEEN DIVVIED UP AND EATING AWAY BY THOSE WHO DON’T NECESSARILY NEED THAT SORT OF ASSISTANCE.. PEOPLE ON SSI SSDI NEED FINANCIAL AID THAT THEY CAN TRUST THAT THEY CAN HAVE THAT THEY CAN LOOK FORWARD TO IN ORDER SO THAT THEY DO NOT NEED TO WORRY ABOUT SHELTER OR FOOD OR ANY OTHER EXPENSE THAT COMES WITH THAT THAT’S WHAT AMERICA IS SUPPOSED TO BE ALL ABOUT.. AND FOR SOME REASON IT JUST HAS NOT BEEN THAT WAY IN THE PAST 50 YEARS.. REALLY GOT TO WONDER WHY THAT IS.. TRILLIONS OF DOLLARS SUPPOSEDLY SPENT ON STUFF THAT NOBODY NEEDS FOR MORE THAN A SHORT WHILE.. THAT SORT OF WASTEFUL SPENDING NEEDS TO STOP AND THOSE ADDITIONAL FUNDS THAT ONE WOULD SAVE FROM THROWING MONEY AWAY COULD BE GIVEN TO THAT DISABLED POPULATION AND THE AMERICAN PEOPLE THEIR WALLETS IN OUR NATIONAL DEBT MAY NOT HAVE EVER NEEDED TO BE SO LARGE.. REMEMBER THIS POST IT MAKES ALL THE SENSE IN THE WORLD AND THAT IS EXACTLY THE WAY IT SHOULD BE TAKEN BY ANYONE WHO READS THIS THERE HAS TO BE AN UNDERSTANDING AND THERE HAS TO BE A SEMBLANCE OF AN IDEAL OF COMFORT FOR THESE PEOPLE.. GIVE THEM WHAT THEY DESERVE GIVE THEM WHAT THEY MUST HAVE IN ORDER NOT TO HAVE TO SPEND THEIR LIVES WORRYING OR STRESSING OR MAKING THEMSELVES PSYCHOLOGICALLY ILL FROM THE FACT THAT THEY’RE SIMPLY IS NOT ENOUGH MONEY TO DO JUST THE BASICS AND CREATE JUST THE BASICS OF THEIR EXISTENCE.. BUT YET THEIR CREDITORS CAN CAN COME AT THEM AND IN THE WORST SITUATIONS TAKE THEIR HOMES AWAY FROM THEM FOR SMALL AMOUNTS OF PROPERTY TAXES OWED OR CONDOMINIUM DUES OWED OR SOME OTHER FINANCIAL LIABILITY WHICH IS COMPLETELY OUT OF THEIR CONTROL.. THE THING IS IS THAT THESE EXPENSES JUST COME WITH THE TERRITORY WHAT NEEDS TO BE SPENT IN ORDER TO HAVE OR EXPERIENCE A MODICUM IDEAL SENSE OF COMFORT.. I WILL BE WRITING MORE ABOUT THIS IN THE FUTURE AND HOPEFULLY OUR SENATORS OUR CONGRESS PEOPLE LOCAL POLITICIANS GOVERNOR’S MAYORS AND THEIR SUPPORT TEAMS WILL UNDERSTAND AND STOP SPENDING MONEY ON THINGS AND OBJECTS THAT MAKE NO SENSE.. AND TO START AND BEGIN TO KNOW WHERE THAT MONEY SHOULD GO.. GOING BY THE WAY I’M AN INDEPENDENT.. I DON’T MEAN LEFT I DON’T MEAN RIGHT AND MOST OF THE TIME I’M NOT EVEN IN THE MIDDLE WHEN IT COMES TO POLITICS BUT BE ASSURED OF ONE THING. AND THIS IS A DEAR MESSAGE TO OUR POLITICIANS YOU NEED TO BE FLEXIBLE YOU NEED TO SWAY IN ANY DIRECTION NECESSARY TO SOLVE THESE PROBLEMS AND IT MUST GET DONE.. BECAUSE THE GENERATION THAT IS NOW 50 TO 90 YEARS OLD IS THE GENERATION WHO’VE EXPERIENCED MORE FREEDOMS AND MORE PERSONAL FREEDOMS.. THEN ANY OTHER GENERATION BEFORE IT AND MOST LIKELY ANY OTHER GENERATION COMING AFTER IT.. SO OUR POLITICIANS SHOULD TREAT THESE PEOPLE WITH COMMON SENSE AND THE ABILITY TO GIVE THEM A MODICUMLY IDEAL COMFORTABLE EXISTENCE.. FOR THEY ARE THE ONES WHERE YOUR HISTORY COMES FROM. AND IF YOU WANT HISTORY TO LOOK BACK ON 2021S GROUP OF POLITICIANS IN THE UNITED STATES THEY MUST TREAT THAT GENERATION OF ELDERS WITH MORE OF A SOFT HAND AND OPEN UP TO THEIR NECESSITIES DURING THEIR GOLDEN YEARS.. THANKS FOR READING I APPRECIATE IT NOW LET’S WAIT AND SEE WHAT SORT OF REPLIES I GET FROM THIS POST.. ALL ARE WELCOME NO MATTER WHAT YOUR OPINION IS.
My social security income does not pay all my household bills. I can’t even pay my utility bills after I pay my rent!! I don’t like living like this!! I need to be able to pay ALL my bills and still have a little bit left to "live on".
When the stimulus refund hitting NYC.
Why brag so much about Colas. We seniors don’t see them because Medicare always keep them. Every year they brag about Colas and Medicare takes it. And we wonder why Biogen wanted to come up with vaccine for people with dementia and why should the rest of the seniors pay for that in Medicare if they don’t have that disease. Now too, social security should be for the people who worked to put into it and here we see disable people getting social security when they never worked even young ones. It is time the government crack down on this. No wonder they say in a few more years social security will run out. Now you know why.
Oh yeah $30 and $25 a month is really going to help spare me
Everyone need it
So if you receive 700 a month how much will I be getting now with a 6% increase
I get my SSI check early I’m direct deposit it’s still the same …
None goes to seniors , goes to higher rent, lose benefits,
Give them stimulus check that won’t be taken by government
how did my check go down $200?
Where are they getting 5.9 % when gasoline up over 50% grocerys up 20 % I must have had a different math class in my day ???????
What about supplemental security income
Yea right! 5.9% huge lie! They give us an increase, then they raise the amount they steal from our checks each mont! What a joke!! I now get
$11 more per month.
Social security cola is nothing, but they give businesses all this money. Wait and see who keep theses businesses in business. I will ONLY buy food and keep my a$$ home.
I did not gain a dime all of the increase went to Medical part B
Do you need to apply, I’m in social security only for 3 year’s I’m 68 year’s old
I got my check ssi today it’s still the same what’s going on ..
What they do not say is that Medicare will increase to $ 170 a month.
This is a big increase in our Federal welfare checks!!!
I get 727.00 with the other Medicare taking there share I was trying to figure out, what I would receive.
I would love to take a trip with that money too but I have to do the right thing because that’s what they’re giving me the money for is to do the right thing since I cannot go back to work and that’s to take care of my bills and myself and not travel they find out that you traveling with that money and watch what happen they will cut your ass off so quick because they feel like well this person signed up for social security disability because they can’t work anymore and they need to help because they have a health problem or a mental problem and then find out that you using that money to go to Jamaica and Hawaii and all these different places you better watch it your ass I end up homeless and then they will make you pay that money back too cuz they feel like you using them people better watch what they say on these phones I’m telling you this is some real s*** government don’t play that I’m telling you guys the truth so watch it if you go take trips to s*** keep it to yourself that’s just like getting the money and go by a whole bunch of dope and sell it with the social security money they don’t even want a person living with you and you’re on disability and that person work without letting them know they even said if you go out of town have any kind of funds what’s in your bank account how many people live with you do you have a jewelry gold they want to know all these things so watch what you say mess around in your worker be on YouTube and see this s*** next thing you know your asses off social security just letting people know just trying to keep you guys safe I wanted myself and I watch what I say and I watch what I do they’ll never see me carrying bags and heavy s*** in my house I have people help me got to watch your back especially if you getting their money for free meaning everything you said is a lie
What about people that’s on Social security disability I don’t understand this at all do we get the raise too I know it’s not much if we do get anything 😥
I wish biden would just pass for breaking a campaign promise that got him votes from people on social security over the 200 more a month promise…other wise people would not have given their vote to him cause we all knew how incompetent he is but needed that money…hate is a strong word and i hate this administration like ive never hated before!
Yeah, be sure to subtract the Medicare premium increase from that COLA, if you have it.
most people are low end 800s ssi this is not going to help them much at all
That 5.9% will only give me $57.00 extra. That won’t do much for me, and I don’t think rest of us it will either. Nothing to get excited about.
Teamsters kicked in
Im currently working with Lawyer Anthony Madridal and I pray in Jesus name. My hearing is on January 10 at 10 am with Thomas Businger. Im in the process of getting Medical records from my therapist
Lord of Heaven and earth I remember those days I use to pray that I would be the last to get my benefits
Im so glad! I
2 Corinthians 1:20 ESV / 1,141 helpful votes
For all the promises of God find their Yes in him. That is why it is through him that we utter our Amen to God for his glory.
could finally take what was mine. I have faith
WHEN is our WV Rich Elite’s 3 going to acknowledge the needs of our Poorest. OUR SENIORS. Vets. Disabilities. Ppl w/out children..etc.. A Descent Stimulus Helping Hand. To ALL not just a few.. Like other states are doing.. That truly cares for ALL there ppl ?? WTF
What about low income people in Kentucky
Yup got my letter of the increase. And then got another letter stating I will have to PAY into my social security $108 a month. I guess the gov spent to much money and needs to rip us off more
It takes me and my son to make enough to get by on with social security.cant afford a new car or a nice house on it that’s for sure.
Yea, b/c THEY OF COURSE RAISED MEDICARE BY AROUND 30$ to 170.10$ my COLA raise IS a WHOPPING 51$!!! Yay! Thank you Social Security Administration, US Government and EVERY SINGLE COMPANY AND STORE WHO RAISED their prices on EVERYTHING EVERYONE NEEDS!! And, THANK YOU COMPANIES WHO JUST RAISED THEIR PRICES B/C THEY SAW OTHER COMPANIES RAISING THEIR PRICES AND MAKING MORE MONEY ON THE BACK OF A WORLD WIDE PANDEMIC WHERE PEOPLE LOST THEIR JOBS!!! I’m so OVERJOYIED!!! And I DON’T care about and DON’T want to hear about "oh, it’s b/c of shipping". Prices of items I buy have gone up an ENTIRE DOLLAR!!! I live on disability and Medicare raising their premium so high takes away from my inflation helping COLA increase and THAT IS BS!!!!
Big deal 5.9 %increase 59 percent of it gets taken away by increase in Medicare. The increase in food and clothing insurance and everything else. I still end up in the hole. We get no sit.ulus check for having worked our life and paid for our own child care. The reason that we get a kick in the pants from the government is because they live by better benefits.
Because of the increase in Medicare deductions my SS payment will be $1 less than I have been getting! Stupid!
5.9 percent amount is what…. 90 dollars a month is how much of the 5.9 percent. Where is the rest???
How much less functionally…
COLA 5.9% while inflation is calculated at 6.3%.
Even though it is lower than the actual inflation rate that is still .4% lower than the official rate. Meaning you are functioning getting .4% less this year than last.
Then go back and see when was the last time a COLA "increase" was equal to the inflation rate (or higher if it ever has been higher) and then go do the calculations of every year being .2% less, .6% less, .3% less and then realize you are functional getting less that you got over a decade ago.
Omg…inflation is 20%
I just received my first retirement payment for 2022, and it was only increased $50, is there a reason for this, would it help to contact SSI?
So where is the $200 coming in at?
It’s actually less than the cost of living increase. Again, we lose.
The cola increase is not fair. People with larger checks get more than people with lower income. How is that fair?
The money will go to the reduction of food stamps and if you are on section 8 housing program your rent will go up. We need a raise badly but with everything else going up in price, the raise is not doing us seniors any good. We’re in the same place , poor and needy. We are having to continue to work with back pain, cancer, problems with all kinds of pains and can’t stand for hours at a time. We need help, with bills , rent , water bills ,electric bills are higher, that is if you’re like me i don’t use electricity for heat nor cooling. Nor my dish washer and very little plug in. Like my washer and TV and lamp at night. They are luxuries that I have to avoid because of the cost.
What a joke! Medicare part B almost doubled! Another political ploy by Taliban Joe!
DON’T SPEND IT ONE SHOT DISPERSED $3.75 MONTH.