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Trustees Reports. Cost-of-living adjustments. Average Wage Index. The table below shows estimated future cost-of-living adjustments (COLAs) and estimated future percentage increases in the national average wage index (AWI). These estimates are derived from the "intermediate" assumptions in the 2023 Trustees Report.
SOCIAL SECURITY. 2023 SOCIAL SECURITY CHANGES. Cost-of-Living Adjustment (COLA): Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2021 through the third quarter of 2022, Social Security and Supplemental Security Income (SSI) beneficiaries will receive an 8.7 percent COLA for 2023.
May 5, 2023 · The Social Security Administration (SSA) announced an 8.7 percent cost-of-living adjustment (COLA) for 2023, the largest inflation-fueled increase in benefits in more than 40 years. Starting in January, the average monthly Social Security retirement benefit will rise by about $146, from approximately $1,681 to $1,827, according to the SSA.
Oct 9, 2022 · Social Security on Thursday announced an 8.7 percent cost of living adjustment for retirees, the largest inflation adjustment to benefits in four decades — a welcome development for...
Oct 12, 2023 · Scott Horsley. 3-Minute Listen. Playlist. Social Security beneficiaries can expect a 3.2% cost-of-living increase next year. It's a smaller increase than the 8.7% bump recipients got this...
Nov 28, 2022 · Update: 2023 Cost-of-Living Adjustment. Nov 28, 2022. To help people who receive benefits and payments keep up with the changing cost of living, Social Security beneficiaries often receive an annual cost-of-living adjustment (COLA). Each year, Social Security bases the COLA on changes in the Consumer Price Index.
Oct 13, 2023 · Contributor Group. Oct 13, 2023,07:00am EDT. Share to Facebook. Share to Twitter. Share to Linkedin. Getty. Key Takeaways. Inflation has been high now for many months, but the Fed has managed to...
