The 2023 Social Security COLA Is 8.7% — Highest Increase Since 1981

There’s at least one benefit to this year’s sky-high inflation: A giant raise for Social Security beneficiaries. The Social Security Administration announced that there will be an 8.7% cost-of-living adjustment (COLA) for 2023. That will result in an average Social Security benefit increase of $140 per month, starting in January 2023. At the same time, […]