Social Security in 2023: What will change in payments and benefits?

Here are three major changes to Social Security in 2023

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1. Year 2023 COLA hike to boost payments

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[{"selector":"#anim-e2eb3b67-dd3e-4fa6-b6cf-2e85f97470ab [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"}] Social Security recipients will receive an 8.7% COLA increase the following year, after the inflation spike in 2022. Social Security recipients will receive an 8.7% COLA increase the following year, after the inflation spike in 2022. CREDIT GETIMAGE

2. Work loan requirements will increase in 2023

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[{"selector":"#anim-f670c139-cee0-4ba3-b305-f66fd4e2ce4c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] A maximum of four credits can be earned in a year, for which the fixed amount was $1,510 in 2022, but will increase to $1,640 in 2023. A maximum of four credits can be earned in a year, for which the fixed amount was $1,510 in 2022, but will increase to $1,640 in 2023. CREDIT GETIMAGE

3. There will be heavy taxes for high earners in 2023.

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Social Security in 2023: What will change in payments and benefits?

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Social Security in 2023: What will change in payments and benefits?

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Here are three major changes to Social Security in 2023

Here are three major changes to Social Security in 2023

1. Year 2023 COLA hike to boost payments

1. Year 2023 COLA hike to boost payments

2. Work loan requirements will increase in 2023

2. Work loan requirements will increase in 2023

3. There will be heavy taxes for high earners in 2023.

3. There will be heavy taxes for high earners in 2023.

Social Security in 2023: What will change in payments and benefits?

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