Social Security Increase For 2023
Watch for these 5 changes to social security in 2023 1. 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. The average ss benefit paid in 2023 increases to. The 2023 cola could be around 9.6 percent, even higher, over 10 percent, should prices jump again.
The 8.7% cola is the biggest annual increase since the 11.2% adjustment. For those who receive social security disability insurance, the average. Maximum ss monthly benefit for a worker retiring at full retirement age in the year 2023 will increase from $3,345 to $3,627. (istock) although millions of social security recipients will.