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For context, the average Social Security benefit for a retired worker as of May 2024 is $1,916.63 per month. With the projected 2.57% COLA, the average would rise to $1,965.89.
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 ...
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. This is the largest increase in ...
In January of 2023, seniors on Social Security saw their benefits increase 8.7%. That cost-of-living adjustment, or COLA, was the largest one to arrive in decades. And it no doubt helped many ...
With the impending close of 2022, you might be making resolutions for the new year, including keeping a closer eye on what's in store for Social Security and the cost-of-living adjustment ...
Over 70 million Americans who receive Social Security or Supplemental Security Income (SSI) benefits will see a 3.2% cost of living adjustment (COLA) in 2024, the Social Security Administration ...
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 ...