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The 8.7% increase in the Social Security COLA for 2023 is the highest since an 11.2% hike in 1981. For that you can thank soaring inflation in 2022. As GOBankingRates previously reported, ...
Social Security recipients will soon find out what their new monthly payments will be in 2023 after the 8.7% cost-of-living adjustment (COLA) kicks in. Beginning in December, the Social Security...
On average, Social Security benefits will increase by more than $140 a month in 2023, the SSA said. The 8.7% COLA is the biggest annual increase since the 11.2% adjustment in 1981. When Will My ...
Those living with a fixed income have a little relief coming their way in 2023 with the Social Security Administration announcing an 8.7% increase in benefits. ... Social Security’s 2023 ...
That means 2023’s 8.7% increase will be the biggest one in over 40 years. ... Don’t worry! In the 2023 Social Security COLA Announcement, Kijakazi states that as long as you set up your My ...
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 ...
The news of the 2023 payment increase comes as a relief to the many seniors and other beneficiaries of Social Security (about 70 million people, per the SSA) who have been struggling to pay bills ...
Otherwise, your benefit is more likely to fall in line with the average Social Security benefit, which was $1,657 in 2022 and should be approximately $1,801 in 2023. Rise in Earnings Limit