Social Security Cost Of Living Increase 2023
The social security administration is expected to announce this week the largest inflation adjustment to benefits in over 40 years. Social security and supplemental security income (ssi) benefits for approximately 70 million americans will increase 8.7 percent in 2023. All right, well, social security's cost of living adjustment for 2023 will increase 8.7%. Roughly 70 million americans, including.
 "2023 Social Security Cost Of Living Increase Could Be Largest In 40")
Starting in january 2023, social security beneficiaries will receive an 8.7% increase in benefits due to a cost of living adjustment, or cola. An 8.7% cola will increase the maximum taxable wages to $160,200 in 2023. The social security administration is expected to announce this week the largest inflation adjustment to benefits in over 40 years. The social security administration announced the 2023 cola thursday.