Social Security 2023 Cola. The social security cola will not be released until october, but if inflation continues at its current pace, beneficiaries could see a 7 percent increase. Social security beneficiaries saw a 5.9% bump to their monthly checks in 2022, the highest increase in about 40 years.
The social security cola will not be released until october, but if inflation continues at its current pace, beneficiaries could see a 7 percent increase. It's time to kiss that estimated 11.4% cola for 2023 goodbye. American seniors and others who receive monthly social security checks will likely see a big cost of living raise in 2023.
Say Goodbye to Your 11.4 Social Security Raise in 2023 Personal Finance
This likely means that the 2023 social security cola will be the highest in decades. The social security cost of living adjustment (cola) for 2023 is set to be the largest jump in benefits in 40 years, thanks to high inflation rates. (cola) increase in 2017, the social security administration (ssa) announced that benefits will in fact increase by 0.3% in january 2017. Social security beneficiaries saw a 5.9% bump to their monthly checks in 2022, the highest increase in about 40 years.
