Social Security's 2022 Benefit Hike Is Looking Bigger and Bigger

Tens of millions of people rely on Social Security  for vital retirement income, and many live largely on the fixed income that Social Security provides. One of the most important aspects of Social Security is that its monthly benefits are adjusted each year for inflation through annual cost of living adjustments, or COLAs. When inflation levels are tame, as they've been for much of the past decade, Social Security COLAs tend to be small.



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