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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 ...
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.
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...
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.
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.
This year's soaring inflation rate has all but assured that in 2023, Social Security recipients will get their highest cost-of-living adjustment in 41 years. Based on the latest consumer price ...
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% ...
Inflation started to cool down in July, but a non-profit advocacy group still said that it anticipates the highest Social Security cost-of living-adjustment (COLA) since 1981. See: Consumer Price...