Benefits are not stagnant or unchanging under the Social Security system.

There are a lot of changes each year in Social Security, which makes it quite dynamic.

There are a lot of changes each year in Social Security, which makes it quite dynamic.

How the system operates in the broadest sense. In summer 2022, Social Security will undergo some changes that you might not want to know.

Keep track of inflation readings

By 2023, Social Security beneficiaries could be affected significantly by this summer's inflation readings. 

Because Social Security adjusts beneficiary payouts every year to keep up with inflation's cost, 

Beneficiaries receive a cost-of-living adjustment. Generally, the COLA goes up 5.9%, but some estimates project 

that 2023’s COLA will be 8.6% or even higher. In 2022, the COLA increased by 5.9%, but some estimates estimate

that 2023's COLA will rise by 8.6% or even more. If you want to get an early indication of a potential COLA adjustment, 

keep an eye on the CPI-W in that July-September period. Those born between the 1st and 10th of the month can expect their payments on the following days:

Social Security payments are received primarily when your birth date falls. 

Social Security payments are received primarily when your birth date falls. 

Payment dates for those born between 11th and 20th

On every third Wednesday, Social Security benefits are paid to those born between the 11th and 20th of any month.

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