Social Security Increasing, Here’s How Much
Good news for seniors!
As you already know, inflation under President Biden is INSANE!
While inflation pains in the United States are tough to deal, seniors have some good news to look forward to.
According to Newsmax, seniors in 2023 can expect a Social Security cost-of-living adjustment (COLA) brought on by President Biden’s inflation as high as 8.7%!
This means seniors will get a 8.7% increase in their monthly social security payments.
The 8.7% estimate was calculated by the The Senior Citizens League which is a nonpartisan senior group. Senior citizens who get on average $1,656 per month can expect an increase of $144.10!
It’s important to remember that 8.7% increase as of right now is just a very accurate guess. You can depend in the increase being 8.7% however it can still change slightly.
The Social Security Administration is expected to make their final decision on how much it will increase payments by October 13th so stay tuned for a final update!
