who-would-receive-the-social-security-check-with-an-increase-of-8.7%-by-cola-the-next-week-that-begins-on-january-9

Social Security recipients whose birthday falls between the 1st and 10th of the month are expected to receive their first check with the 8.7% COLA (Cost of Living Adjustment) increase next week.

The recipients who will see their payment the week that begins next January 9 are the third group to which the money will arrive.

These are those that meet between 1 and 10.

The Social Security Administration (SSA) will process those payments on Wednesday, January 11.

Most SSA payment submissions are completed through electronic deposits or transfers.

The agency is guided by a calendar that is based on the birthday of the recipients and makes shipments on Wednesday of each week.

The first to receive the check were recipients of the Supplemental Security Income (SSI) program on December 30.

This Tuesday, January 3, the first funds with the increase were released to people who receive both funds from Social Security and the Supplemental Security Income (SSI) program. Social Security recipients who claimed their payments before May 1997 are also assumed to have received the enlarged check.

The last round of checks with the COLA increase will be mailed on January 25th.

The increase seeks to help retirees and other beneficiaries of SSA programs to battle against the effects of inflation.

The 8.7% rise is the highest since the 1980s.

By Scribe