Social Security Benefits COLA 2023

The Social Security Administration (SSA) announced the 2023 COLA on October 13, 2022.

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[{"selector":"#anim-5b06ce73-0680-4de6-82c7-911d70ff3637 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Inflation data for September 2022 influenced the determination of the COLA. Inflation data for September 2022 influenced the determination of the COLA. CREDIT GETIMAGE

[{"selector":"#anim-f50b77ca-089d-4629-b948-1e668552a074","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] The monthly salary for the average retired worker would increase from $1,681 to $1,827. The monthly salary for the average retired worker would increase from $1,681 to $1,827. CREDIT GETIMAGE

[{"selector":"#anim-ed055c57-51ff-49b3-a91f-5a98f3b538c8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The amount of increase in monthly salary is $146. The amount of increase in monthly salary is $146. CREDIT GETIMAGE

[{"selector":"#anim-0057bb70-7448-4c70-a7ad-f6c20525bdcd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] In 2023, approximately 70 million Americans will receive Social Security and Supplemental Security Income (SSI) benefits. In 2023, approximately 70 million Americans will receive Social Security and Supplemental Security Income (SSI) benefits. CREDIT GETIMAGE

[{"selector":"#anim-d7c91019-6799-42fd-9f67-147e887daa1d","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] Social Security and SSI benefits will increase by 8.7% in 2023. The 8.7% increase applies to benefit payments starting in January 2023. Social Security and SSI benefits will increase by 8.7% in 2023. The 8.7% increase applies to benefit payments starting in January 2023. CREDIT GETIMAGE

[{"selector":"#anim-4faea0b6-3eba-4e2d-a1bc-a67adc480a78 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] COLA adjustments help beneficiaries keep pace with inflation. The increase in benefits is intended to provide financial support and stability for retirees and individuals receiving SSI. COLA adjustments help beneficiaries keep pace with inflation. The increase in benefits is intended to provide financial support and stability for retirees and individuals receiving SSI. CREDIT GETIMAGE

Social Security Benefits COLA 2023

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Social Security Benefits COLA 2023

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The Social Security Administration (SSA) announced the 2023 COLA on October 13, 2022.

The Social Security Administration (SSA) announced the 2023 COLA on October 13, 2022.

Social Security Benefits COLA 2023

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