Primary Menu
SAN FRANCISCO - FEBRUARY 2: People line up outside of the Social Security Administration office February 2, 2005 in San Francisco, California. With an eye on his legacy at the start of his second term, U.S. President George W. Bush has ambitious Social Security reforms on his agenda. His 40 minute State of the Union speech, scheduled to be delivered at 9 p.m. tonight, is thought to be centered on controversial changes to the 70-year-old program. (Photo by Justin Sullivan/Getty Images)

WASHINGTON (AP) — Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. The benefits increase amounts to $92 a month for the average retired worker, according to estimates released Wednesday by the Social Security Administration. The increase affects household budgets for about 1 in 5 Americans, nearly 70 million people, including Social Security recipients, disabled veterans and federal retirees. Policymakers say it’s a safeguard to protect benefits against a loss of purchasing power, and not a pay raise for retirees.