Stimulus Check 2022: New Check For Seniors?

The government provides assistance to retired, low-income, and handicapped Americans through Social Security, Supplemental Security Income (SSI), and Social Security Disability Income (SSDI).

Each individual receives their Social Security Stimulus Check on Wednesday depending on their birthdate.

The majority of elderly people can apply for Social Security payments as soon as they reach 62. The $1,657 checks are solely for Social Security holders; everyone else is not eligible. Later in the article, The Sun newspaper makes reference to that, but not in the false headline. The checks themselves are not brand-new though; recipients receive a cost-of-living boost in their monthly benefits payments.

New SSI Stimulus Check Being Sent Out

When someone retires or becomes disabled, Social Security pays them an income Stimulus Check. Social Security Stimulus Checks for retired people can be started as early as age 62.

According to the Social Security Administration‘s (SSA) website, an increase in the cost of living in 2022 will result in a 5.9% increase in Social Security and Supplemental Security Income (SSI) payments for roughly 70 million Americans. The bulk of Social Security recipients started receiving cost-of-living adjustments (COLAs) in January 2022, and the average payout for all retired employees is currently $1,657.

Rep. Terri Sewell (D-AL), a member of the House Ways and Means Committee’s Subcommittee on Social Security Stimulus Check, said in a press meeting about the 5.9% increase that the Social Security Act links the annual COLA to the rise in the Consumer Price Index, the most commonly used indicator of inflation that the U.S. Bureau of Labor Statistics determines.