2023 Cola Increase
The cpi for july was 9.1%, the first of three months that will determine the cola for 2023. With this in mind, experts. While this increase is slated for 2023, there may be some veterans who see it reflected in their benefits this december. It will result in a benefit increase of more than $140 per month on average starting in january.
These premiums are deducted from your social security payment, so you’ll have less. For comparison, the increase percentage for this year (2022) was set at 5.9%. The first check social security beneficiaries receive in 2023 will show an 8.7% increase in benefits, known as a cost of living adjustment, or cola. With this in mind, experts.