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Advocates have questioned whether the 2023 increase is good enough. As CBS notes, inflation reached a level of 9.1% in June, which is above the projected 8.7% COLA increase. ... Social Security ...
The Biggest COLA Increase in 40 Years. In 1981, the cost-of-living adjustment (COLA) to Social Security was a whopping 11.2%, which was a huge leap at the time. ... In the 2023 Social Security ...
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 ...
As noted by CBS, the last time Social Security saw this kind of increase was back in 1981 when the SSA announced a COLA of 11.2%. The news of the 2023 payment increase comes as a relief to the ...
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...
An 8.7% increase in the 2023 COLA would translate into an average monthly increase of $144.10, CBS News reported. This would boost the typical benefit to $1,802 a month from $1,658 in 2022.
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% ...
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