Cost-of-Living Adjustment (COLA) Information | SSA
WEBThe 3.2 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 66 million Social Security beneficiaries in January 2024. Increased payments to approximately 7.5 million SSI recipients will begin on December 29, 2023. (Note: some people receive both Social Security and SSI benefits)
WEB2023 SOCIAL SECURITY CHANGES. Cost-of-Living Adjustment (COLA): Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2021 through the third quarter of 2022, Social Security and Supplemental Security Income (SSI) beneficiaries will receive an 8.7 percent COLA for 2023.
Social Security Benefits Increase in 2023 | SSA
WEBOct 13, 2022 · Social Security Benefits Increase in 2023. Approximately 70 million Americans will see a 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, Social Security benefits will increase by more than $140 per month starting in January.
Estimate for 2023 Social Security COLA Benefits Raise - AARP
WEBOct 17, 2022 · Next year could bring the biggest increase to Social Security benefits in four decades, with rising prices fueling forecasts of a nearly double-digit cost-of-living adjustment (COLA) for 2023.
Latest Cost-of-Living Adjustment - The United States Social Security ...
WEBThe latest COLA is 3.2 percent for Social Security benefits and SSI payments. Social Security benefits will increase by 3.2 percent beginning with the December 2023 benefits, which are payable in January 2024.
Social Security COLA will be 8.7% in 2023, highest increase in 40 …
WEBOct 13, 2022 · The average Social Security retiree benefit will increase $146 per month, to $1,827 in 2023, from $1,681 in 2022. The Senior Citizens League, a nonpartisan senior group, had estimated last month...
Social Security COLA Set at 8.7 Percent for 2023 - AARP
WEBMay 5, 2023 · The Social Security Administration (SSA) announced an 8.7 percent cost-of-living adjustment (COLA) for 2023, the largest inflation-fueled increase in benefits in more than 40 years.
Social Security COLA Increase for 2023: What You Need to Know
WEBOct 9, 2022 · The large COLA, an 8.7 percent increase that begins in January, will push some retirees over income thresholds that require them to pay income taxes on part of their Social Security benefit.
Inflation may push Social Security COLA up around 10% in 2023
WEBAug 12, 2022 · The most recent estimate for a 2023 cost of living adjustment (COLA) is 9.6 percent, says Mary Johnson, Social Security and Medicare policy analyst for senior advocacy group the Senior...
What Is the Social Security COLA? | Kiplinger
WEBOct 13, 2022 · The estimated average monthly Social Security benefit payable in January 2023 will increase from $1,657 in 2022 to $1,801 for an individual. The average monthly benefit for a couple who are...