Not everyone gets the same amount. The payment depends on how long you have been a receiver of social security payments. The pay scale for average retired workers has increased up to 8%. This is perhaps the only payment retired workers can count on and is permanent.
This is unlike stimulus checks and other forms of financial assistance. It was less than the current amount. The amount has increased since February this year. Now it’s at $1693. This is also not fixed as it fluctuates given the retirement workers’ situation. Their various programs are also available. Which determines the check type of the claimant.
This Year Cola Influenced The Social Security
In 2017 cola influenced the amount by up to 0.3%. But this year it did well for all the beneficiaries with increasing up to 8.7%. Social Security benefits are divided into many groups. They are retired workers, survivor benefits, disability insurance benefits, and also spouses and minor children of retired workers.
Spouses of deceased workers or their minor children get $860 to $900 monthly social security payments. This is the average scale of them. Again all the retired workers on average get $1830, 8% more than average workers. Study shows they make up to 77.9% more than average workers.
Here comes the survivor’s benefits, this includes nondisabled widows or widowers. They get up to $1710 per month. This is also 8.8% more than other beneficiaries. People who are physically disabled get $1483. Their percentage stuck at 13.2%.
All the social security claimants got inflation-related extra payments. And other types of extras when the country was going through the debt ceiling. There was a rumor of SSI payment drying up. A few days ago president reached a conclusion, has promised to keep social security payments intact. No matter what happens it won’t fluctuate.