According To An August Update From Nonpartisan Senior Advocacy Group The Senior Citizens League (Tscl), The Expectation Is For The 2023 Cola To Come In At 9.6%.

Benefits are projected to climb 8.7% in 2023, the biggest increase in more than 40 years. For this reason, some have speculated that the cola for 2023 might be as high as 10%. Social security recipients are up for a big raise next year:

The Consumer Price Index For All.

That would be the largest. The social security administration (ssa) will announce the official 2023 cola in october 2022. Experts on the social security cola for the next year have various figures and assumptions.

If Your Birthday Falls Between The 11Th And 20Th, Your Check Is Paid On The Third Wednesday, So You'll See Your First Cola Increase On Jan.

According to a report by aarp.org, such an increase. Critical spotlights on social security cola 2023: With great uncertainty regarding the inflation rate in the coming months, the senior citizens league has also published upper and lower estimates for the 2023 cola increase.

In Any Case, One Thing That Is Clear And.

Separate from any cola increase, a bill before congress could see social security recipients getting an additional $2,400 a year in 2023. For 2022, the social security cola, or increase, was 5.9%, but it's on track to be around 9% in 2023 based on recent inflation readings.