Although we have just over seven months of this year left to go a popular and widely respected business forecasting publisher has turned its attentions to Social Security and the likely Cost of Living Adjustment (COLA) for 2022.

The Kiplinger Letter recently published its assertion that Social Security beneficiaries could be in line to receive a sizeable jump in their monthly benefits. The prediction is for a COLA of 4.5% which dwarfs last year’s increase of 1.3%. If the prediction holds true this will be the largest increase since 2008’s whopping 5.8% adjustment.

The calculations are based on the expected rise in consumer prices which had been depressed due to the pandemic. There are a few months to go until the final figures are decided in October so things could well change in the intervening months. For now, at least, it’s looking promising, and we’ll keep you posted on how things do turn out.