Older Americans scraping by on meager increases in their Social Security checks the past decade will reap a relative windfall next year. The roughly 70 million people – retirees, disabled people and others – who rely on Social Security will receive a 5.9% cost-of-living adjustment (COLA) next year, the Social Security Administration said Wednesday. That's the biggest bump since 1982. The sharp increase is tied to a COVID-19-fueled spike in inflation after years of paltry consumer price increases. For the average retiree who got a monthly check of $1,565 this year, the bump means an additional $92 a month in 2022, boosting the typical payment to $1,657.