What Will Happen To Ssi In 2023
Anything you hear or read about how much your ssi checks will be in 2023 is only speculation until the official announcement this fall. According to this letter, social security administration chief actuary stephen goss writes that social security would be permanently depleted by 2023 if there was hypothetical. Seniors will get an 8.7% cost of living adjustment. The cpi for july was 9.1%, the first of three months that will determine the cola for 2023.
The governor’s budget estimates that the federal cola for the ssi portion of the grant will be 2.3 percent in 2022‑23, increasing maximum ssi grants by $19 for individuals and. The 2023 benefits increase could be around 10.8%, so a senior receiving the average $1,661 benefit. This year, with prices on everything from rent to medical care services to food soaring,. This is the maximum amount of money that workers pay social security tax on, and the maximum.