It’s Official: Here’s Your Social Security Raise for 2023

Well, at long last, we have an answer. Today, the U.S. Bureau of Labor Statistics released September data from the Consumer Price Index. Meanwhile, Social Security COLAs are based on third-quarter data from a subset of that index — the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). And now that that data is available, we can say with certainty that seniors on Social Security will be in for a nice boost in the coming year.

How does an 8.7% COLA sound to you?

Social Security benefits will increase by 8.7% at the start of 2023. Now if you were hoping for a larger boost than that, you may find that COLA disappointing. But it’s still the largest COLA to arrive in decades.

It’s Official: Here’s Your Social Security Raise for 2023 (msn.com)

Author: Dennis Hickey

There are no limits to success to those who never stop learning. Learning will also nourish your personal growth. I hope you enjoy this website and visit often so you keep learning and growing too!

Leave a Reply

%d bloggers like this: