Will Ss Get A Raise In 2023
Here’s how it will work in 2023. Seniors will get one of these raises in 2023. Social security benefits will increase by 8.7% at the start of 2023. The 2023 social security raise won't be announced until october of 2022.
But early evidence suggests that the raise will be the largest one that seniors have seen since 1981. While the official cola for 2023 won't be announced. On october 13th, the social security administration announced that the 2023 social security wage base will increase from the current $147,000 to $160,200.00, a $13,200 base increase. 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.