SSA Announces 2023 COLA Likely to Rise by 8%

The Social Security Administration has announced that the Cost of Living Adjustment (COLA) may rise as much as 8% next year. This is to account for rising inflation, which has driven up the cost of living across the country, and which has had a disproportionate impact on many lower income citizens. As a result, recipients of Social Security benefits, including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) should see a substantial increase in their benefits over the next year.

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