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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.
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.
According to a new prediction from the non-profit Committee for a Responsible Federal Budget (CRFB), the COLA for 2023 could be as high as 10.8%, which would be the highest increase in four decades.
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 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% ...
The Social Security Administration has made its annual cost-of-living adjustment (COLA) for 2023. Recipients of Social Security and SSI are receiving an additional 8.7% on their monthly benefits ...
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...
It's possible to see another large raise out of Social Security. But whether that happens in the near future is questionable. Social Security Benefits Rose 8.7% in 2023.