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Experts believe that for Social Security, in 2023, there will be an increase in the benefits received from Social Security. And its adjustment may be announced in October.
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Yes, it's quite likely that the Social Security Administration is going to announce a cost of living adjustment (COLA) for Social Security beneficiaries in 2023, and that's expected to be a huge increase.
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A much higher growth than the 5.9% achieved in 2022 can be guaranteed this time in 2023. For 2023, Social Security benefits could see the biggest increase in four decades, according to many analysts.
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Many experts expect an even bigger increase than in 2022. However, it is really difficult to tell until it is revealed.
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