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Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) benefits will increase by 5.9% for almost 70 million Americans. These increases to Social Security disability benefits will begin at the start of December 2021 and will also be made payable in January 2022.
Other adjustments will occur in January 2022 as a result of the increase in the national average wage index. The maximum amount of wages due for Social Security payroll tax in 2022 will also increase, and the exact amount for the retirement earnings test is also expected to change in 2022.
When the cost of living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W), federal benefit rates rise as well. When inflation rises, the CPI-W rises, resulting in a greater cost of living. Because prices for products and services are, on average, increased as a result of this change, the cost-of-living adjustment (COLA) helps balance these costs.
COLA notices will be mailed to retirees, survivors, disability beneficiaries, SSI recipients, and representative payees throughout the entire month of December 2021. You can also view your benefit amount online if you would like to know sooner. Just log into your mySocial Security account and visit the message center.
However, if you do not have an account yet, the deadline to create one to view your increased 2022 Social Security benefits was November 17, 2021, so you will have to wait until the notice is mailed.
We understand how important it is to receive your Social Security disability benefits in a timely manner. If you have any questions about your Social Security income or benefits, Jan Dils, Attorneys at Law, can help provide the answers you need.
Our compassionate lawyers are experienced in the application process, appeals, missed payments, and more. Call today for more information.
Jan Dils, Attorneys at Law