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.

Published 8 months ago · Washington, United States

News Articles

More Filters

All

Left

Center

Right

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

8 months ago·London, United Kingdom

Read Full Article

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)

8 months ago·United States

Read Full Article

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.

8 months ago·United States

Read Full Article

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.

8 months ago·Atlanta, United States

Read Full Article

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.

8 months ago·Washington, United States

Read Full Article