The next round of Social Security payments is scheduled to be distributed in early May. In 2022, approximately 64 million Social Security recipients will see the largest cost-of-living adjustment increase in nearly 40 years — 5.9 percent. This increase took effect on January 1 for Social Security recipients and on December 30, 2021 for Supplemental Security Income recipients.
COLA increases are typically modest, but the annual inflation rate in the United States is on the rise, having accelerated to 8.5 percent in March and could rise even further.
The following is the Social Security schedule for May:
- If your birthday falls between the 1st and 10th of the month, your payment will be distributed on Wednesday, May 11.
- If your birthday falls between the 11th and 20th of May, your payment will be distributed on Wednesday, May 18.
- If your birthday falls between the 21st and 31st of May, your payment will be distributed on Wednesday, May 25.
The Social Security Administration’s schedule for benefit payments in 2022 can be found here.
If your monthly Social Security benefits are insufficient to cover basic expenses, you may be eligible for SSI. Adults and children with blindness or another disability who meet financial qualifications are eligible for SSI payments. SSI is also available to people aged 65 and up who have a low income and financial resources.
If you received Social Security before May 1997, or if you receive both Social Security and SSI, your Social Security will be paid on May 3.
By creating a My Social Security account here, you can easily check on your benefit payments and Social Security statements. You can check the status of an application, estimate future benefits, manage the benefits you already receive, and more through your online account.