First Social Security checks with COLA increase will begin to arrive the second week of January

Retired beneficiaries of Social Security programs will begin to receive checks with the increase for Cost of Living Adjustment (COLA) as of the second week of January.

The expectation is that the Social Security Administration (SSA) proceed in the same way as in previous years regarding the distribution of funds.

The schedule for sending monthly payments is established based on the recipient’s date of birth. The money is released every Wednesday.

The first to receive the funds are the beneficiaries whose birthday is between the 1st and 10 of their respective month.

If your date of birth birth falls between 10 and 20 you will assumes that you receive the money from the third Wednesday of the month.

While the last week of January, birthdays are supposed to be between 21 and 31 receive the monthly payment with the increase.

This year, the checks with the 5.9% COLA increase began to arrive on January 12.

The amount that retirees receive is determined based on data from the Consumer Price Index for Salaried Workers in Urban Areas and White Collar Workers (CPI-W), which measures inflation levels in the United States between July and September of this year.

It is expected was that this year, the announcement of the increase will be made on October 13. Last year, the details of the increase were disclosed on the same day, which in turn coincides with the date the CPI is announced.

The Bureau of Labor Statistics of the federal Department of Labor usually circulates the CPI data the second week of each month.

On 13 September, the agency reported on the inflation levels for August. The number was 8.3%, which represents a slight drop compared to the 8.9% reported in July.

This has led experts on the subject and representatives of groups that defend the rights of retirees offer more conservative estimates of the amount of the COLA increase.