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Social Security benefits could see highest increase in 40 years

NerdWallet Millennial Money Wage Garnishment
Posted at 12:33 PM, Apr 20, 2022
and last updated 2022-04-25 12:15:24-04

The Social Security Administration is responding to the highest inflation rates in 40 years with what's expected to be the biggest cost-of-living raise in decades.

The estimated adjustment next year could be up to a nearly 9% increase, based on recent inflation data.

We'll know for sure where the cost of living raise lands when the Social Security Administration releases the final adjustment percentage in October.

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