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Social Security COLA 2022 – February date for SSI recipients when next automatic check is sent in 11 days

Social Security changes: increased income limits

Social Security claimants can expect some changes to their benefits next month.

if you work while receiving Social Security benefitsyour benefits may be reduced, depending on how much you earn.

If your income is more than $18,960 in 2021, the SSA will withhold $1 for every $2 you earn over the limit if you’re under full retirement age.

However, starting in 2022, this threshold will increase to $19,560.

If you reach retirement age in 2022, you’ll be able to earn $51,960 next year – up $1,440 from the 2021 annual limit of $50,520.

In that case, $1 is withheld for every $3 earned above that threshold.

If you were born in 1960 or later, your full retirement age is 67. For everyone else, it’s 66 and a specific number of months.

https://www.the-sun.com/money/4553010/cola-social-security-2022-february-automatic-checks/ Social Security COLA 2022 – February date for SSI recipients when next automatic check is sent in 11 days

DevanCole

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