COLA Social Security payment schedule 2022 — Average direct payment of $1,657 drops in days 

According to the Senior Citizens League, the cost-of-living adjustment (COLA) would climb up to around 8.6 percent 

The average benefit would increase by about $143 per month to $1,800, while the maximum benefit would increase by around $361 to $4,555 

Social Security benefits are determined by the yearly COLA, which is based on the consumer price index 

The average monthly Social Security benefit is $1,657 this year, with a maximum of $4,194 per month 

Those born between the first and 10th of the month should expect their first payout on June 8 

Those having birthdays between the 11th and 20th of the month will receive payments on the third Wednesday of the month 

While those with birthdays between the 21st and 31st will receive payments on the fourth Wednesday of the month