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Social Security blank card (Photo: Shutterstock)

Social Security recipients can look forward to one of the largest cost-of-living adjustments in nearly 40 years in 2022. The Senior Citizens League predicts an increase of 6.2 percent based on consumer price index data from July.

“The estimate is significant, because the COLA is based on the average of the July, August and September CPI data,” said Mary Johnson, a Social Security policy analyst for the organization. “With one-third of the data needed to calculate the COLA already in, it increasingly appears that the COLA for 2022 will be the highest paid since 1983, when it was 7.4 percent.”

 

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