Welcome to AS USA 2023 COLA increase updates
Hello and welcome to AS USA’s live blog on the 2023 Social Security COLA increase for Sunday, 16 October.
The Social Security Adminstration announced the 2023 Cost-of-living adjustment (COLA) for social security benefits, for programs like Supplemental Security Income and Social Security Disability Insurance. Other government pension and benefits programs will also be affected by the 8.7% increase.
The COLA offered for next year is historic in size after inflation has plagued markets for basic commodities consumed by most households, including food, shelter, utilities, and gasoline.