Social Security Payments 2023 Increase Could Cause 2 Major Problems for Retired Workers

Social Security Payments 2023 Increase Could Cause 2 Major Problems for Retired Workers

Social Security payments will see a COLA increase of 8.7% in 2023, which could mean bigger payouts for the Social Security benefits recipients.
Social Security Update: COLA Increase in 2022 Was No Match Against Inflation, and It Could Be a Problem Again in 2023

Social Security Update: COLA Increase in 2022 Was No Match Against Inflation, and It Could Be a Problem Again in 2023

By Mary Webber
The latest cost-of-living adjustment or COLA for Social Security benefits and SSI payments is 8.7% in 2023. It will be the biggest benefit increase since 1981.
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