COLA Social Security payment schedule 2022 - When you can expect benefits to increase by 8.7 percent  

A cost-of-living adjustment (COLA) of 8.7 percent is scheduled for 2023 according to the Social Security Administration 

A cost-of-living increase of 8.7 percent in 2023 will mean an average increase of $144.10 per month in Social Security payments

With the highest increase since 1981, beneficiaries will be able to cope with the surge in inflation over the past year

The new year will see claimants receiving their increased checks

Families with low incomes may qualify for $250 payments  

At least $20million will be transferred to Dallas City Council to help fund a program that will provide $250 a month for a year to low-income families 

Local Today reports that the funds are allotted to racial justice initiatives as a result of excess sales tax revenue

In addition, $1 million will be used for a pilot program  that will pay monthly payments to 325 families