When Is Social Security Cola Announced 2023
The official announcement is scheduled for thursday, oct. It’s the highest increase in over four. The social security cola for 2023 will not be released until october 2022. The cola also applies to supplemental security income (ssi) as well as social security disability insurance (ssdi).
The ssa says the 8.7% cola will be applied to social security payments starting in january 2023, while increased ssi benefits will begin on 30 december 2022. All those who receive these benefits will see the cola applied to. The mode of funding received will. An ssa spokesperson confirmed with the website verifythis.com that the 2023 cola will be announced in october.