Will Ssi Get A Raise In 2023
30with your new benefit amount. The estimated average monthly social security benefit for all retired workers will increase from $1,681 to $1,827 a month from january, according to an agency fact sheet. 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. With the payment increase in 2023, forbes said 8.7% more will equate to an average added monthly benefit of $144 for individuals and $240 extra for couples filing jointly.
The 2023 cola is 8.7%. As of this year, roughly 66 million americans receive social security benefits each month, and their payment amounts will increase in 2023. For those receiving supplemental security income (ssi), the new payment. With an average social security benefit of $1688 per month, a 10.5% social security cola for 2023 would translate into about $175 more per month in the pockets of the average.