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How Will Your Social Security Benefits Compare to the 2022 Average?

·3 min read
How Will Your Social Security Benefits Compare to the 2022 Average?

If you're collecting Social Security, your benefits will be going up. The average benefit is going up because retirees are getting a 5.9% cost of living adjustment (COLA). Since prices rise each year, Social Security benefits would purchase much less over time without COLAs.