Social Security Announces 2023 Cost of Living Adjustment, Largest in Decades
Retirees and veterans will see an 8.7 percent increase in their Social Security and Supplemental Security Income (SSI) benefits starting in 2023, the Social Security Administration (SSA) announced last week.
Federal Retirees Will See 4.9 Percent COLA Increase In 2022
The Social Security Administration (SSA) announced on October 13, 2021, that the annual Social Security cost-of-living adjustment (COLA) will be 5.9 percent in 2022 – this is the largest increase in benefits payments since 1982 when the COLA was 8.7 percent.