A 5% Raise for Social Security Recipients in 2022 Is Looking Like a Sure Thing

A 5% Raise for Social Security Recipients in 2022 Is Looking Like a Sure Thing

Arguably the best feature of Social Security is that its monthly payments adjust for inflation every year. Cost of living adjustments, or COLAs for short, get incorporated into Social Security checks every January, with the goal of keeping purchasing power for seniors constant even when prices rise. Inflationary pressures have been almost nonexistent for decades.