Cola 2023 Update
A much higher boost than in 2022. No matter what 2023's social security cola amounts to, it's fair to say that it will be notably higher than the 5.9% boost seniors got in 2022. The cola will increase 8.7% for. According to a report from the senior citizens league, cola for the year 2023 is estimated to be 9.6 percent.
These premiums are deducted from your social security payment, so you’ll have less. According to estimates made by the organization senior citizens league based on the recent consumer price index (cpi) data from the bureau of labor statistics, the cola for 2023 might well be around 8.7%. The 2023 social security cola will be announced thursday, the same day the us bureau of labor statistics will releases cpi information for september 2022. 8.7% senior citizens league , cola statement