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If inflation runs “hot” — or higher than the recent average — the 2023 COLA could be 11.4%, said Mary Johnson, the Senior Citizens League’s Social Security and Medicare policy analyst.
The big news for 2023 is an 8.7% jump in the Social Security COLA, which is the highest since an 11.2% increase in 1981. The COLA’s steep hike this year is due to the soaring inflation rate ...
In 2023, seniors on Social Security saw their benefits rise by 8.7% as one of the most generous cost-of-living adjustments, or COLAs, arrived in the midst of soaring inflation.
A bump to the cost of living allowance (COLA) -- to 8.7% for 2023 -- has resulted in a surge in senior spending compared to other generational groups. But is helping to maintain seniors' standard ...
The new payment amounts in 2023 will reflect an increase of 8.7%, which is the highest adjustment the Social Security Administration has offered since 1981 and is the fourth biggest COLA in the ...
The group’s latest COLA estimate is well below earlier estimates this year — estimates that projected a Social Security increase as high as 10.5% in 2023. However, even an increase of 8.7% ...
As expected, the Social Security Administration on Thursday announced its biggest annual cost-of-living adjustment (COLA) in more than four decades, with Social Security recipients set to get an 8 ...
With 2023 fast approaching, Social Security beneficiaries will soon get a definite answer on how much their monthly payments will go up next year based on the current quarter's inflation rate. For...