Published 2 years ago

Social Security Administration announces 8.7 percent COLA hike, largest in 40 years

Summary by Ground News

Amid record high inflation, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023, the highest increase in 40 years. The Social Security Administration announced the change on Thursday, which will result in a benefit increase of more than $140 more per month on average starting in January.

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The Guardian

Social security recipients to get 8.7% boost in benefits – highest in 40 years

Historic increase means average recipient will receive over $140 extra a month along with a 3% drop in Medicare Part B premiums

2 years ago·London, United Kingdom

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USA Today

Understanding the Social Security benefit boost

Millions of Social Security recipients just received the highest boost to their benefits in 40 years, which is fueled by record high inflation and is meant to help cover the higher cost of food, fuel and other goods and services. (October 13)

2 years ago·United States

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abc News

Social Security benefits to increase 8.7% in 2023

Social Security and Supplemental Security Income benefits for approximately 70 million Americans will increase 8.7% in 2023.

2 years ago·United States

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CNN

Social Security recipients get 8.7% cost-of-living increase, the highest in more than 40 years

Social Security recipients will receive an annual cost-of-living adjustment of 8.7% next year, the largest increase since 1981, the Social Security Administration announced Thursday.

2 years ago·Atlanta, United States

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Washington Times

Social Security grants 8.7% cost-of-living adjustment increase to compensate for inflation

Social Security beneficiaries will see an 8.7% rise in their checks in 2023, the Social Security Administration announced Thursday, as the government rushes to keep up with runaway inflation.

2 years ago·United States

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