- They begin to send the first batch of checks corresponding to the month of February for up to $4,194 dollars
- Following the 5.9% COLA increase, the maximum Social Security benefit increased to $4,194 dollars
- As for the payments for the month of February, the first batch has already been sent to its recipients since last Wednesday, February 9
GOOD NEWS! They begin sending the first batch of checks corresponding to the month of February for up to $4,194 dollars to millions of beneficiaries throughout the United States. They also warn that in a few days they will continue with the distribution of the second and third batch.
Last year, the Social Security Administration (SSA) made a cost of living adjustment (known as COLA) of 5.9%, in such a way that 64 million Social Security beneficiaries have already begun to see more money in their monthly payments since January 2022.
They begin to send checks of up to $ 4,194 dollars in the US
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Following the 5.9% COLA increase, the maximum Social Security benefit increased to $4,194 dollars. Although the amount that each beneficiary receives in his check will depend on his particular data, such as retirement age or the income he received during the time he worked.
So, for example, with the increase that has been effective since the beginning of 2022, a person who retired at age 70 in 2021 might receive a maximum of $3,895, but a person who retired at age 70 in 2022 might receive a maximum of $4,194 dollars.
How much can I receive from Social Security?
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According to the authorities, a person in the United States can retire from the age of 62, but the longer he takes to claim his Social Security benefits, the more money he can see in the long term in the monthly checks he will receive, reported The Sun.
The money you receive will also depend on your income and the amount of taxes you have paid during your working life. Each case requires a particular calculation, but keep in mind that the maximum amount for this year, according to the COLA increase, will be $4,194 dollars.
When will the payment batches arrive?
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New Social Security checks will be sent in three payment batches each month, depending on the beneficiary’s date of birth. So if a person was born between 1st and 10th of the monthyour payment will be sent on second wednesday; If you were born between 11 and 20your payment will be sent on third wednesdayand if you were born between 21 and 31your payment will be sent on fourth wednesday of the month.
As for the payments corresponding to the month of February, the first batch has already been sent to its recipients since last Wednesday, February 9, although there are still two more batches to be sent. The second will be sent on February 16 and the last on February 23.
Payment schedule 2022 FIRST SEMESTER
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We give you the first quarter payment dates for you to take note of: MARCH 2022: second Wednesday, March 9; third Wednesday, March 16 and fourth Wednesday, March 23. APRIL 2022: Second Wednesday, April 13; third Wednesday, April 20 and fourth Wednesday, April 27. MAYO 2022: Second Wednesday: May 11, Third Wednesday: May 18 and Fourth Wednesday: May 25. JUNE 2022: Second Wednesday: June 8, Third Wednesday: June 15, Fourth Wednesday: June 22.
Remember to identify the payment date that corresponds to you the rest of the year, all you have to do is take a calendar and mark if it corresponds to the second, third or fourth Wednesday of the month depending on your date of birth: from 1 to 10 corresponds to the second Wednesday, from 11 to 20 corresponds to them the third Wednesday and from 21 to 31 the fourth Wednesday.
When will my Social Security benefits arrive?
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People associate Social Security payments with the elderly, but the truth is that the SSA in the United States offers three different types of aid to eligible citizens: retirement benefits, survivor benefits and disability benefits.
According to the Social Security Administration, once a person applies, it generally takes six weeks for their application to be processed and benefits to begin. Once the first payment is received, the new payee will only need to review the payment schedule to know when their check will arrive each month.
Also checks up to $841 dollars
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In addition to Social Security benefits, monthly Supplemental Security Income (SSI) payments will also see a 5.9% increase this year. This means that the beneficiaries of this program will be receiving juicier checks from the month of January.
That is, an eligible individual might receive a monthly maximum of up to $841 dollars, while a couple in which both are eligible might receive a payment of up to $1,261 dollars per month. Generally, SSI payments are sent on the first of each month, although it may vary if it falls on a holiday or weekend. CHECK CALENDAR HERE.
Will the money be enough?
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The increase made by the Social Security Administration was something historic, the truth is that such a high increase was not seen in the year, but the pandemic has unleashed inflation in the country, which is positioned close to 7%, which leads many to wonder, will this increase be enough?
Although the news has been positive, it is likely that in the end the increase in benefits will not be so great and that inflation will end up ‘eating’ the ‘extra’ money from the COLA increase. They begin to send checks of up to $ 4,194 dollars in the US.
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