- The final round of May Social Security payments are going out.
- COLA Social Security pays up to $4,555 a month.
- Who is eligible for these payments?
COLA SOCIAL SECURITY PAYMENTS: The good news continues and Social Security payments are still being delivered. Payments for up to $4,555 will go out every month through the end of the year.
COLA Social Security payments up to $4,555
According to CBS News, inflation is slowly declining, and a lower rate will result in a 2024 cost-of-living adjustment (COLA) that is substantially lower than the 8.7% increase in 2023. According to the Senior Citizens League it could be as little as 3.1%.
Meanwhile, there are still more monthly Social Security payments to be made this year. The payments of up to $4,555 will be distributed based on recipients’ birthdays, according to The Sun.