US: Social Security COLA will be 8.7% in 2023, highest increase in 40 years

Submitted by pmassetti on Fri, 10/14/2022 - 16:19

Social Security beneficiaries can expect an 8.7% boost to benefits in 2023, the Social Security Administration announced. The increase tops the 5.9% cost-of-living adjustment for 2022, which at the time was the highest in four decades.

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