It looks like retirees will get a raise next year.
The Senior Citizens League is a nonpartisan advocacy group for older Americans and has a history of accurately forecasting the annual cost-of-living adjustment. The group estimates the Social Security COLA for 2022 may be 6.2%.
The boost would be much higher than the 1.3% change made for 2021, which was one of the lowest increases Social Security has ever had.
Check out this video to see how much money this will add to your benefits and to see how the increase compares with other changes in the past.
“In the long-term, the United States Inflation Rate is projected to trend around 2.60 percent in 2022
and 1.90 percent in 2023, according to our econometric models.”
h/t Sheriff of CLOTTINGham